36 African Satellites Are Orbiting Earth. Africa’s Space Industry Is Worth $7.3B

36 African Satellites Are Orbiting Earth. Africa’s Space Industry Is Worth $7.3B

satellites Space industry
The African space industry is now worth an estimated $7.3 billion annually and is expected to exceed $10 billion by 2024.

Africa’s space industry is enjoying enormous growth, especially in recent years, according to research that forecasts continued growth in the next five years.

The African space market is now worth an estimated $7.3 billion annually and is expected to exceed $10 billion by 2024, according to the African Space Industry Annual Report.

Around 8,500 people are employed in Africa’s space industry.  

From 1998 to April 2019, 32 satellites were launched into orbit by eight African countries. Egypt launched a satellite in November 2019.

The countries with satellites in orbit include Algeria, Angola, Egypt, Ghana, Kenya, Morocco, Nigeria and South Africa.

In addition to the 33 government and private-owned satellites funded by a single country that were sent into space, African space agencies jointly funded three other satellite projects — RASCOM-QAF1, RASCOM-QAF1R, and New Dawn — that were designed for regional operations. 

Africa’s space industry experienced growth since 2016

The growth of the industry has been particularly noticeable in recent years as 16 of the 36 satellites were launched since 2016, Africa Space News reports.

The African satellites in orbit include 14 earth observation satellites, 11 communications satellites, eight technology demonstration satellites, a satellite for scientific experiments, an educational project satellite, and a military radar satellite, according to the report.

Are you interested in getting smart on Life Insurance?
No Doctor Visit Required, Get Policy for as low as $30 per Month
Click here to take the next step

The industry’s growth is attributed to increasing business opportunities for local and foreign companies within the African space industry, such as in the case of a satellite launched to improve internet coverage or access to satellite television channels.

Listen to GHOGH with Jamarlin Martin | Episode 68: Jamarlin Martin

Jamarlin talks about the recent backlash against LeBron James for not speaking up for Joshua Wong and the violent Hong Kong protestors.

In some cases, the opportunities are aligned to the strategic priorities of African governments. An example of this was the recently launched TIBA-1 communications satellite.

The Egyptian satellite, launched on Nov. 26 by satellite operator Nilesat, is owned and operated by the government of Egypt.

The satellite is expected to provide broadband communications and internet services to millions of people in remote and rural areas while also providing secure communication for the Egyptian military and government agencies.