The group CEO of the UAE’s satellites solutions company intends to treble the amount of oil rigs that it now connects.
As soon as its Thuraya-4 subsequent-generation Satellite (NGS) launches next year, Al Yah Satellite Communications, also known as Yahsat, plans to provide a wide range of new applications and services, including telemedicine.
According to Ali Al Hashemi, the company’s group chief executive, the satellite is expected to start providing commercial services by 2025.
According to him, the UAE-based provider of satellite solutions anticipates shortly twice the number of drilling rigs to which it presently supplies satellite access.
“By 2025, we anticipate beginning to provide a new aerial service with Thuraya-4 that will provide a variety of services, including telemedicine. According to Mr. Al Hashemi, Thuraya-4 would have 20 fresh applications, including both government and commercial ones.
The maritime, governmental, & IoT [Internet of Things] consumer groups, in particular, will benefit from the diverse platform of over 20 capabilities that this satellite will provide. It will be a significant strategic step that will propel us toward profitability and growth.
Mubadala Investment Company’s subsidiary, founded in 2007, provides multi-mission satellites services in more than 150 nations throughout Europe, the Arabian Peninsula, Africa, South America, Asia, and Australasia. Mubadala Investment Company is the sovereign investment arm of Abu Dhabi.
The infrastructure sector, which continues to be the group’s largest business division and provides customized solutions to government bodies, performed well, helping the company record a 5% increase in first-half earnings this year.
Thuraya, its mobility division, provides satellite-based mobile devices solutions to a variety of clientele, including fishing communities.
The corporation intends to raise investments even further in its commercial business segments, which include marine, education and health care, and oil and gas. To address the need for satellite access, it also plans to provide mobile and fixed satellite services.
Beyond the fishing sector in Vietnam & the Philippines, which are its main customers, the company is also attempting to bring its Thuraya MarineStar service to other countries like Indonesia through its mobility arm Thuraya.
The firm is currently preparing for an explosive growth path with a good amount of cash on its balance sheets and no debt, he said.
“The Internet of Things, direct-to-device, and satellite imagery are the three big growth narratives that we are looking at very closely,” said Mr. Al Hashemi.
We believe that 6G-based IoT networks will support enormous data-driven applications as well as grow our user base because the the next-generation 6G wireless communication networks are anticipated to launch shortly and incorporate artificial intelligence.