Follow us:
  • Facebook
  • Twitter
  • Google+
  • AppStore
  • RSS
Azernews.Az
Tuesday March 2 2021
  • Latest
  • Nation
  • World
  • Business
  • Oil & Gas
  • Armenian Aggression
  • Nagorno-karabakh conflict
  • Editorial
  • Analysis
  • Lifestyle
  • Events
  • Healthcare
  • Culture
  • Sports
  • Travel
Home
  • Home
  • Nation
  • World
  • Business
  • Oil & Gas
  • Armenian Aggression
  • Nagorno-karabakh conflict
  • Editorial
  • Analysis
  • Lifestyle
  • Events
  • Healthcare
  • Culture
  • Sports
  • Travel

Revenues of Azercosmos disclosed

1 April 2019 19:38 (UTC+04:00)
2 406

By Mirsaid Ibrahimzade

Today, Azerbaijan is a member of space satellite club with three satellites, long-term space industry development programs and infrastructure and strengthens its position in the global space industry market.

The revenues of Azerbaijan's Azercosmos OJSC from the export of satellite and telecommunication services amounted to $25.6 million in 2018.

The company's revenues from the exports increased by 12 percent compared to 2017 and accounted for 87 percent of the company's total income.

Azercosmos provided 24 countries with its services. The bulk of the services accounted for France ($11.8 million), Malaysia ($8.4 million), the UAE ($1.5 million), Germany ($941,000) and Georgia ($537,000).

So, regarding the recent statistics, it should be noted that Azercosmos OJSC exported satellite telecommunication services cost $ 2 million to 15 countries of the world within January and February of this year.

This is stated in Export Survey of the Center for the Analysis of Economic Reforms and Communications, Report informs on April 1.

The cost of exporting services of Azercosmos to 14 countries amounted to $ 952,000 in February 2019.

Over the two months of this year, the organization exported services primarily to France, the United Arab Emirates, Germany, Nigeria, and Georgia.

“Azercosmos” is the only satellite operator in Caucasus established on May 3, 2010, and fully owned by the government of Azerbaijan Republic. Having launched the Azerspace-1, the first-ever satellite of Azerbaijan, on February 8th 2013, the company provides highly reliable, satellite-based communication services to enterprise and government customers for DTH, voice, video, data and mobility applications.

With the advanced design and flexible switching capabilities of the Azerspace-1 telecommunication satellite, millions of viewers are able to get an access to information and communications services worldwide. Azerspace-1 plays a role as an important gateway in a joint space that connects more than 50 countries in Central Asia, Europe, Africa and Middle East.

In December 2014, Azercosmos took over the rights to operate and commercialize Azersky, high resolution (1.5m imagery products) optical Earth observation satellite, and entered into the commercial business of Earth observation services, including geo-Information services.

With its high-skilled personnel and advanced technical capacity, “Azercosmos” has succeeded in becoming one of the driving forces of the ICT sector both in the country and region during the short period since its inception. Its resources allow the company to be well-equipped and hence handle emerging technologies along with creating an added value for the population that is beyond the reach of the terrestrial networks in benefiting from the satellite-based services.

Strategic development plans of the company include enhancing the coverage area and spectrum of services. For this purpose, on 25 September 2018, Azercosmos launched its second telecommunications satellite Azerspace-2 in a geostationary orbit 45° East longitude.

Azerspace-2 satellite worth $ 190 million is expected to bring $ 400 million in revenue to the country's economy.

--

Follow us on Twitter @AzerNewsAz

  • #AZERCOSMOS OJSC
  • #AZERSKY
  • #AZERSPACE-2
  • #AZERSPACE-1

Related News

Azercosmos seals agreement with global broadcaster company

Azercosmos seals agreement with global broadcaster company

28 February 10:15
Azerbaijan, Turkey mull cooperation in space field

Azerbaijan, Turkey mull cooperation in space field

19 February 13:10
Azercosmos exports services worth $45.1m in 2020

Azercosmos exports services worth $45.1m in 2020

2 February 10:15
Azercosmos seals agreement with Kyrgyz, Turkish TV channels

Azercosmos seals agreement with Kyrgyz, Turkish TV channels

19 January 14:36
Azercosmos seals cooperation deal with Belgian company

Azercosmos seals cooperation deal with Belgian company

12 January 15:17
Azercosmos exports services worth $41.3m in Jan-Nov

Azercosmos exports services worth $41.3m in Jan-Nov

31 December 2020 10:00
Azercosmos exports services worth $37.8m in Jan-Oct

Azercosmos exports services worth $37.8m in Jan-Oct

3 December 2020 10:35
Azercosmos, TRT World establish cooperation

Azercosmos, TRT World establish cooperation

20 November 2020 14:13
Azercosmos receives int'l certificate

Azercosmos receives int'l certificate

3 November 2020 13:31
Azerbaijan's historical, cultural monuments destroyed as result of Armenia's aggression

Azerbaijan's historical, cultural monuments destroyed as result of Armenia's aggression

11 October 2020 10:00
  • Latest
  • Popular
1 March 18:00 • Azerbaijani army's mortar batteries continue live-fire training exercises [VIDEO]
1 March 17:52 • YASHAT foundation sends war veterans to Turkey for treatment [PHOTO]
1 March 17:50 • Russia launches its first Arctic-monitoring satellite
1 March 17:39 • Azerbaijan SME Dev't Agency expands access of businesses to financial market
1 March 17:33 • President Aliyev says Armenia must fulfill Karabakh peace deal [UPDATE]
1 March 17:24 • Azerbaijani Agency for SMEs talks approval of regulatory acts in 2020
1 March 17:17 • Rainy weather expected on Tuesday
1 March 17:06 • Country registers 125 new COVID-19 cases
1 March 16:58 • President Aliyev inaugurates new projects at Caspian Sea [UPDATE]
1 March 16:54 • Baku warns against Yerevan's revanchism policy
1 March 16:43 • Azerbaijan, Turkey to strengthen cultural ties [PHOTO]
1 March 16:36 • Azerbaijan discloses number of citizens vaccinated against COVID-19
1 March 16:29 • Azerbaijan continues increasing number of SME houses
1 March 16:20 • Azerbaijan, Pakistan eye infrastructure cooperation
1 March 16:14 • Iran's Qom Seminary stands behind Azerbaijan regarding Karabakh
1 March 15:58 • Azerbaijani Azerlotereya passes under control of Turkish company
1 March 15:44 • 13,000 citizens provided with social support in post-war period
1 March 15:27 • Azerbaijani FM tweets message on Zero Discrimination Day
1 March 15:11 • Georgian journalists and experts visit Fuzuli [PHOTO]
1 March 14:50 • Azerbaijani citizens now can arrive in Georgia, avoiding 12-day quarantine
1 March 17:33 • President Aliyev says Armenia must fulfill Karabakh peace deal [UPDATE]
1 March 11:14 • MFA: Sumgayit events well-planned provocation against Azerbaijan
1 March 16:58 • President Aliyev inaugurates new projects at Caspian Sea [UPDATE]
1 March 11:30 • Azerbaijan suspends import of poultry products from regions of Estonia
1 March 10:54 • Azerbaijan, Netherlands mull opening of Trade Houses
1 March 12:28 • 3,000 martyrs’ families, disabled war veterans to receive houses in 2021
1 March 14:50 • Azerbaijani citizens now can arrive in Georgia, avoiding 12-day quarantine
1 March 12:16 • State Fortepiano Trio awarded in Denmark [PHOTO]
1 March 10:13 • Culture Ministry expands international ties [PHOTO]
1 March 10:30 • Before Khojaly, Azerbaijanis thought that they were joking with us - ex-president of Armenia
1 March 14:11 • Khojaly genocide through eyes of artists [PHOTO]
1 March 10:44 • Introduction of digital technologies into TRACECA corridors to raise route's attractiveness
1 March 11:48 • Azerbaijan shares video from Aghdam's Gulluja village [PHOTO/VIDEO]
1 March 12:46 • National athlete wins gold in Istanbul
1 March 18:00 • Azerbaijani army's mortar batteries continue live-fire training exercises [VIDEO]
1 March 15:58 • Azerbaijani Azerlotereya passes under control of Turkish company
1 March 17:52 • YASHAT foundation sends war veterans to Turkey for treatment [PHOTO]
1 March 15:27 • Azerbaijani FM tweets message on Zero Discrimination Day
1 March 17:39 • Azerbaijan SME Dev't Agency expands access of businesses to financial market
1 March 13:10 • National paralympians to train in Turkey
See more
AzerNews Newspaper
AzerNews
  • Facebook
  • Twitter
  • Google+
  • RSS

Information

About us Contacts Advertising Azernews In Print

News Archive

© 2021 AzerNews. All rights reserved