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Loft Orbital and Marlan Space Form Joint Venture to Establish Middle East’s First Private Space Infrastructure Company
Aug 26, 2024•almost 2 years ago
Contract Type
partnership
Description
Loft Orbital and Marlan Space have joined forces to create Orbitworks, a significant milestone in the UAE’s growing space sector. With an initial investment of over $100 million, Orbitworks aims to produce up to fifty 500 kg satellites annually and is set to begin construction of a state-of-the-art facility for satellite integration and testing. The collaboration will also involve recruiting talent internationally and within the UAE.
Agreement Insights
Based on industry dataStrategic partnership established
Partnership agreements typically involve technology integration and joint go-to-market strategies
Contract momentum indicator
Companies with recent agreements are 2.3x more likely to make additional purchases within 6 months