Azercosmos’ revenues disclosed

28 June 2019 18:08 (UTC+04:00)

By Mirsaid Ibrahimzade

Azercosmos is the only satellite operator in the Caucasus. Having launched the first-ever satellite of Azerbaijan Azerspace-1 on February 8, 2013, the company provides highly reliable satellite-based communication services to enterprise and government customers for DTH, voice, video, data and mobile applications.

According to the Center for Economic Reforms Analysis and Communication, Azercosmos’ revenues from the commercial exploitation of satellites in January-May 2019 amounted to $16.1 million and showed growth by 46 percent in comparison with the same period of 2018.

In January-May, Azercosmos’ services were exported to 18 countries. The majority of the company's services in the reporting period fell on the U.S. ($4.8 million), Malaysia ($4.2 million), France ($4 million), the United Kingdom ($1.6 million) and the United Arab Emirates ($640,000).

According to the Center, revenues from the export of services during the reporting period amounted to 88 percent of the total revenues of Azercosmos.

Previously it was reported that the revenues of Azercosmos from the commercial exploitation of satellites in 2018 amounted to $25.6 million.

It is noteworthy that Azercosmos also operates Azersky – high resolution (1.5m imagery products) optical Earth observation satellite. Thus, the company entered into the commercial business of Earth observation services, including geo-Information services, in December 2014.

Generally, 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 establishment.

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

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Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1

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