HONG KONG, Jan. 27, 2022 /PRNewswire/ -- Hong Kong Aerospace Technology Group Limited (1725)(HKATG) has set several milestones in its commercial aerospace business in 2021, and each of these milestones is a significant achievement. As of today, the Group has successfully launched five satellites for its Golden Bauhinia Constellation project, all of which are currently operating normally in orbits.
In 2022, HKATG is expected to stand out as a fast-growing company. According to the Group, another two satellites named ''Golden Bauhinia Satellite No. 3'' and ''Golden Bauhinia Satellite No. 4'' is scheduled to be launched in Q3 2022.
Reference is made to the announcement of the Group dated 24 January 2022, its subsidiary, Gang Hang Ke (Shenzhen) Space Technology Co., Ltd.) (''SZ Gang Hang Ke'') has entered the second Confirmation with CGWIC to set out the specific terms for the launch of the two satellites named ''Golden Bauhinia Satellite No. 3'' and ''Golden Bauhinia Satellite No. 4''.
According to the second Confirmation, the two satellites are scheduled to launch in 2022 Q3, with the target launch time tentatively being scheduled in July 2022 and will continue to form and constitute part of the ''Golden Bauhinia Constellation.
In addition to the second Confirmation with CGWIC, HKATG also plans to launch 25 satellites in 2022, these satellites will provide more as well as will improve the speed of receiving aerospace data. The further launch of satellites will enhance the Group's quantity and quality for satellite data reception and application services for the ''Golden Bauhinia Constellation'' project, which will facilitate the development of various industrial and commercial activities related to remote sensing data processing, software development, and other professional value-added services in Hong Kong and promoting the development of the aerospace industry in the Guangdong-Hong Kong-Macau Greater Bay Area.
Commercial Satellites Set to Thrive in 2022
The commercial satellite imaging market is poised to grow in 2022, one of the major reasons is that small satellite networks will drive the demand for low-cost delivery services and satellite launch vehicles; on the other hand, a growing number of commercial aerospace enterprises are sending non-professional astronauts into space for the first time, demonstrating to the world the potential of commercial space tourism.
Low Earth Orbit (LEO) is increasingly becoming crowded in recent years, countries have announced plans for launching mega-constellations. As satellite spectrum is a global resource, all satellite systems must apply to the International Telecommunication Union (ITU) before they can be put into service.
Under current rules, satellites operators must launch at least one satellite with its requested frequencies and operate it for 90 days. After those seven years, satellites operators will need to launch 50% in five years and 100% in seven years. As a result, small satellite constellations under the current rules will create a huge demand for future satellite launches.
2021 turned out to be a big news year in space, some are calling the year of space tourism, with billionaires travelling on spacecraft to experience weightlessness in suborbital orbit within 100 kilometres of the ground, people paying high prices to travel to the International Space Station and film crews going into space to make movies.
And there is no surprise that 2022 is going to continue that momentum and maybe even amp it up a little bit. An article named " In 2022 a Moonrush will begin in earnest" on the Economist pointed out that the number of self-funded space travellers worldwide is expected to exceed the number of official astronauts for the first time in 2022.
Also, in the case of the recent volcanic eruption in Tonga, images captured by weather satellites in the US and Japan were cited by the global mainstream media as first-hand information due to communications breakdown. Using satellite images for new reports may become the norm in the news industry.
With its accumulation in the field of the commercial aerospace business, the growth potential of HKATG cannot be underestimated. Based on the new space economy, the Group has continued to strengthen its independent innovation and core technologies to seize the market opportunities of global satellite launches, while promoting the development of the aerospace industry in the region.