By Rasana Gasimova
The revenues of Azerbaijan's satellite operator Azercosmos surged 67 percent year-on-year to $37.5 million in January-October period, the country’s Center for Economic Reforms Analysis and Communication has said.
The revenues were made as a result of commercial services to 26 countries. The company exported its services to France ($9,4 million), the U.S. ($9 million), Malaysia ($8,4 million), the U.K. ($6,8 million) and the UAE ($1,2 million).
Revenues from the export of services amounted to 89 percent of the company’s total revenues. The revenues of Azercosmos from the commercial operation of satellites in 2018 amounted to $25.6 million.
Azercosmos is the only satellite operator in the Caucasus and is fully owned by the Azerbaijani government.
The first communication satellite of Azercosomos, Azerspace-1, was launched into geostationary orbit at 46 degrees east longitude on February 8, 2013. The launch of the satellite was carried out from the Kourou spaceport by the company Arianespace.
Presently, its service area includes countries of Europe, the Caucasus, Central Asia, the Middle East and Africa.
In addition, Azercosmos launched the new satellite Azerspace-2/Intelsat 38 on September 25, 2018.
The satellite has been designed to provide a number of telecommunication services and will serve two operators - Intelsat SA and Azercosmos OJSC.
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.
Recently, the country won the right to host the International Astronautical Congress in 2022.
Follow us on Twitter @AzerNewsAz