The Abu Dhabi-based Marlan Space, backed by the prominent International Holding Company (IHC), has partnered with San Francisco-based Loft Orbital in a joint venture aimed at revolutionizing the UAE’s space sector. With an investment of $100 million, the new venture, Orbitworks, will focus on producing up to 50 commercial low Earth orbit (LEO) satellites annually. Initial satellite components have been secured, with the first launches anticipated by Q1 2026. The first satellite platform will be assembled and tested by early 2025, and a new facility dedicated to satellite integration and testing is also slated for construction. This initiative aligns with the UAE’s broader investment in its space industry, which has already exceeded 22 billion dirhams ($6 billion) in 2023, covering various satellite and space exploration sectors.
Aerospace and Defense, Investment,United Arab Emirates, United States
https://www.zawya.com/en/business/technology-and-telecom/ihc-backed-marlan-space-loft-orbital-partner-in-100mln-jv-to-boost-uae-space-economy-wqj6aj4t