Azerbaijan carries out long-term space industry development programs to further strengthen its position in the global space industry market, Azernews portal reports.
Azercosmos was established to implement the launch, operation and exploitation of telecommunication satellites of Azerbaijan and now operates satellites at different heights in order to support the country’s socio-economic development, commercial, scientific activities as well as to provide public telecommunication services.
The revenues of Azercosmos from commercial exploitation of its satellites amounted to $25.5 mio in January-July 2019b (82% up than a year ago). Its services were sold to 22 countries, mainly to the US ($9 mio), France ($6 mio), Malaysia ($4.2 mio), the UK ($3.7 mio) and the UAE ($838K).
The profit of Azercosmos is expected to reach $45 mio by the end of 2019. The company has recently signed contracts with new customers from nine countries.