• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to secondary sidebar
  • NEWS:
  • SatNews
  • SatMagazine
  • MilSatMagazine
  • SmallSat News
  • |     EVENTS:
  • SmallSat Symposium
  • Satellite Innovation
  • MilSat Symposium

SatNews

  • HOME
  • Magazines
  • Events
  • Perspectives
  • Industry Calendar
    • IN PERSON
    • VIRTUAL
  • Subscribe

UPDATED: Thuraya Secures Million$$$ In Distribution Contracts

October 14, 2021

Artistic rendition of the Thuraya 4-NGS satellite, courtesy of Thuraya.

Al Yah Satellite Communications Company PJSC (“Yahsat” and, together with its subsidiaries, “the Group”) has announced that their Mobile Satellite Services (MSS) subsidiary, Thuraya Telecommunications Company PJSC (“Thuraya”), has secured long term agreements with a global service provider for a total value in excess of AED 316 million ($850 million) over the next three years.

The agreements strengthen the Group’s growing dividend capacity and add to the Group’s contracted backlog of more than AED 7 billion, equivalent to more than five times the annual revenues of 2020. With stable and consistent cash flows, Yahsat is well on track to launch Thuraya 4-NGS, the next-generation satellite system (T4-NGS), in 2023 and commence commercial operations in 2024.

With leading companies such as Airbus, SpaceX and Cobham selected to support the construction of T4-NGS, and by securing a long-term contract with the UAE Government, Yahsat continues to grow across new and existing product lines to deliver higher capabilities and flexibility, while increasing capacity and coverage across Europe, Africa, Central Asia and the Middle East.

The total annual retail MSS market where Thuraya operates is estimated to be more than AED 3.67 billion and is forecast to grow at around 4% annually. Yahsat is set to capture a growing share of this market as it rolls out its next-generation satellite in the coming years.

Ali Al Hashemi, Group Chief Executive Officer at Yahsat, said, “Today’s announcement is another milestone for Yahsat and Thuraya, as we push forward in growing and forging new long-term partnerships to drive even greater value for our shareholders, partners and customers. These partnerships enable us to deliver consistent financial and operational results whilst ensuring our ability to invest in growth with new industry-leading products and solutions, both in the mobile and fixed satellite solutions space, to cement Yahsat’s leading position as a trusted partner of choice in the satellite communications industry.”

Filed Under: Business Moves, Contracts, MSS, SATCOM Services, Satellites

Primary Sidebar

Most Read Stories

  • Kongsberg Defence & Aerospace Enlists NanoAvionics For Three Surveillance Satellites
  • Airbus' Final Two Dispenser-Free Pléiades Neo Constellation Satellites Ready For Launch
  • First Structural Metal Cutting In Space Demo By Nanoracks + Maxar Will Be Aboard The SpaceX Transporter 5 Rideshare Mission
  • Wyld + DEWA Partner To Launch New IoT Satellite Network + Services For The Utilities Sector
  • Miratlas Secures Million$€ In Seed Funding

About Satnews

  • Contacts
  • History

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020

Secondary Sidebar

x
Sign up Now (For Free)
Access daily or weekly satellite news updates covering all aspects of the commercial and military satellite industry.
Invalid email address
Notify Me Regarding ( At least one ):
We value your privacy and will not sell or share your email or other information with any other company. You may also unsubscribe at anytime.

Click Here to see our full privacy policy.
Thanks for subscribing!