{"id":15191,"date":"2023-01-13T02:42:00","date_gmt":"2023-01-13T02:42:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3984977_HK84977_0"},"modified":"2023-01-13T02:42:00","modified_gmt":"2023-01-13T02:42:00","slug":"hkatg-creates-a-breakthrough-in-commercial-satellite-market-joins-hand-with-the-republic-of-djibouti-in-spaceport-development","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=15191","title":{"rendered":"HKATG Creates a Breakthrough In Commercial Satellite Market: Joins Hand with the Republic of Djibouti in Spaceport Development"},"content":{"rendered":"<p><span class=\"legendSpanClass\"><span class=\"xn-location\">HONG KONG<\/span>, Jan. 13, 2023 \/PRNewswire\/ &#8212;&nbsp;Following the signing of a cooperation agreement with the Asia-Pacific Space Cooperation Organization (APSCO) in November, Hong Kong Aerospace Technology Group Limited (HKATG; 01725. HK) delivered another good news on <span class=\"xn-chron\">January 9<\/span>. The Group announced after the market closed, revealing that it had entered into a memorandum of understanding with the Government of the Republic of <span class=\"xn-location\">Djibouti<\/span> and Touchroad International Holdings Group (&#8220;Touchroad&#8221;). The three parties will jointly develop and operate the <span class=\"xn-location\">Djibouti<\/span> spaceport. In addition to the land, the Republic of <span class=\"xn-location\">Djibouti<\/span> will also fully cooperate with related projects.<\/span><\/p>\n<p>The Republic of <span class=\"xn-location\">Djibouti<\/span> is an African country that has actively participated in the joint construction of the &#8220;Belt and Road&#8221; in recent years. The country is located at the southern entrance of the <span class=\"xn-person\">Red Sea<\/span>, it is also on the waterway leading to the Suez Canal and connects the three continents of <span class=\"xn-location\">Asia<\/span>, <span class=\"xn-location\">Africa<\/span>, and <span class=\"xn-location\">Europe<\/span>, which means it has an important strategic position. The signing of MOU not only has caught media attention, <span class=\"xn-person\">Ismail Omar Guelleh<\/span>, President of the Republic of <span class=\"xn-location\">Djibouti<\/span>, and <span class=\"xn-person\">Abdoulkader Kamil Mohamed<\/span>, Prime Minister (<span class=\"xn-person\">Abdoulkader Kamil Mohamed<\/span>) also met with representatives of HKATG in person and make an announcement on Twitter, showing the local government attaches great importance to this collaboration.<\/p>\n<p>&nbsp;According to the data, Touchroad International Holdings Group is an enterprise that has been doing business in <span class=\"xn-location\">Africa<\/span> for more than 20 years and has been involved in various industries and projects such as the development and construction of the Djibouti Special Economic Zone, mineral mining, international trade, and cultural tourism exchanges.<\/p>\n<p>The MOU signed this time not only involves the construction of 7 satellite launch pads and 3 rocket testing pads, but also covers supporting projects such as power stations, water plants, aerospace ports, roads, and ports. The level is quite extensive.<\/p>\n<p>The construction of the spaceport in the Republic of <span class=\"xn-location\">Djibouti<\/span> is expected to take at least five years, that said, &nbsp;from a commercial point of view, the project is still of great benefit to the business of HKATG.<\/p>\n<p>At present, most commercial satellites are launched in the new mode of &#8220;carpooling&#8221; of shared rockets, that is, &#8220;one rocket with multiple satellites&#8221; at the Wenchang Space Launch Site and <span class=\"xn-location\">China&#8217;s<\/span> Taiyuan Satellite Launch Center. Facing the high demand for commercial satellite launches in <span class=\"xn-location\">China<\/span> in recent years, the demand for launch pads has been far outstripping supply, the development of <span class=\"xn-location\">Djibouti&#8217;s<\/span> Spaceport will break the restrictions of the existing business model and have a positive impact on HKATG&#8217;s business development.<\/p>\n<p>The President of the Republic of <span class=\"xn-location\">Djibouti<\/span> believes that the signing of the MOU will enhance <span class=\"xn-location\">Djibouti&#8217;s<\/span> technological capabilities and status. The local government expects that the spaceport project will stimulate the local economy and bring job opportunities to the local people. It is worth mentioning that in addition to focusing on infrastructure construction, all parties will also work together to set up research centers, and universities, and provide aerospace technology, products, services, and projects. This will further promote regional international cooperation and enhance HKATG&#8217;s position in the international commercial satellite market.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2198\" readability=\"7\">\n<p><a href=\"https:\/\/mma.prnasia.com\/media2\/1982261\/Compound_growth_expected_reach_15_3.html\" target=\"_blank\" rel=\"nofollow noopener\"><img decoding=\"async\" src=\"https:\/\/mma.prnasia.com\/media2\/1982261\/Compound_growth_expected_reach_15_3.jpg?p=medium600\" title=\"Compound growth is expected to reach 15.3%\" alt=\"Compound growth is expected to reach 15.3%\"><\/a><br \/><span>Compound growth is expected to reach 15.3%<\/span><\/p>\n<\/p><\/div>\n<p>According to the latest research report issued by&nbsp;Future Market Insights, Inc, the global satellite market is expected to flourish at a strong CAGR of 15.3%. By 2033, the market size will exceed <span class=\"xn-money\">US$55.9 billion<\/span>, with emerging economies such as <span class=\"xn-location\">India<\/span> and <span class=\"xn-location\">China<\/span> experiencing the fastest growth. Many countries have been actively building different types of vehicles and launch pads in recent years and using reusable and biodegradable materials to minimize space waste. &nbsp;<\/p>\n<p>HKATG is committed to building a commercial aerospace industry ecological chain. As early as <span class=\"xn-chron\">May 2021<\/span>, the company launched the overall construction plan for the HK Satellite Manufacturing Center,&nbsp;Satellite Telemetry, Tracking, and Control Center,&nbsp;Hong Kong Satellite Application, and Data Center. Last July, the Company also settled in AMC in <span class=\"xn-location\">Hong Kong<\/span> and plans to build the first satellite manufacturing center in <span class=\"xn-location\">Hong Kong<\/span> with an area of 180,000 square feet. Once <span class=\"xn-location\">Djibouti&#8217;s<\/span> Spaceport is completed, HKATG will become the one-stop commercial satellite manufacturing and launch services provider, the company is on the way to flourishing.<\/p>\n<p id=\"PURL\"><img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=HK84977&amp;sd=2023-01-12\"> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/hkatg-creates-a-breakthrough-in-commercial-satellite-market-joins-hand-with-the-republic-of-djibouti-in-spaceport-development-301720994.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/hkatg-creates-a-breakthrough-in-commercial-satellite-market-joins-hand-with-the-republic-of-djibouti-in-spaceport-development-301720994.html<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>HONG KONG, Jan. 13, 2023 \/PRNewswire\/ &#8212;&nbsp;Following the signing of a cooperation agreement with the Asia-Pacific Space Cooperation Organization (APSCO) in November, Hong Kong Aerospace Technology Group Limited (HKATG; 01725. HK) delivered another good news on January 9. The Group announced after the market closed, revealing that it had entered into a memorandum of understanding [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":15192,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-15191","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>HKATG Creates a Breakthrough In Commercial Satellite Market: Joins Hand with the Republic of Djibouti in Spaceport Development - My Blog<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/transmediavictoria.net.au\/?p=15191\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HKATG Creates a Breakthrough In Commercial Satellite Market: Joins Hand with the Republic of Djibouti in Spaceport Development - My Blog\" \/>\n<meta property=\"og:description\" content=\"HONG KONG, Jan. 13, 2023 \/PRNewswire\/ &#8212;&nbsp;Following the signing of a cooperation agreement with the Asia-Pacific Space Cooperation Organization (APSCO) in November, Hong Kong Aerospace Technology Group Limited (HKATG; 01725. HK) delivered another good news on January 9. The Group announced after the market closed, revealing that it had entered into a memorandum of understanding [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/transmediavictoria.net.au\/?p=15191\" \/>\n<meta property=\"og:site_name\" content=\"My Blog\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-13T02:42:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnasia.com\/media2\/1982261\/Compound_growth_expected_reach_15_3.jpg?p=medium600\" \/>\n<meta name=\"author\" content=\"admin_tony\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin_tony\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=15191#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=15191\"},\"author\":{\"name\":\"admin_tony\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#\\\/schema\\\/person\\\/5b51d407d652c0aa802bea269ea5d7e7\"},\"headline\":\"HKATG Creates a Breakthrough In Commercial Satellite Market: Joins Hand with the Republic of Djibouti in Spaceport Development\",\"datePublished\":\"2023-01-13T02:42:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=15191\"},\"wordCount\":721,\"image\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=15191#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/transmediavictoria.net.au\\\/wp-content\\\/uploads\\\/2023\\\/01\\\/hkatg-creates-a-breakthrough-in-commercial-satellite-market-joins-hand-with-the-republic-of-djibouti-in-spaceport-development.jpg\",\"articleSection\":[\"Business News\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=15191\",\"url\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=15191\",\"name\":\"HKATG Creates a Breakthrough In Commercial Satellite Market: Joins Hand with the Republic of Djibouti in Spaceport Development - 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