Space42, an AI-powered space technology firm, has signed a 17-year contract with the United Arab Emirates government worth 18.7 billion UAE dirhams (US$5.1 billion).

This agreement extends Space42’s secure communication services beyond 2026.

Under the agreement, Space42 will receive AED 3.7 billion (US$999 million) in advance payments to support the new satellite developments.

The total cost for the development program is estimated at AED 3.9 billion (US$1,053 billion).