Hong Kong inaugurates one of the world’s largest satellite manufacturing facilities as the city unveils its aerospace ambitions

Hong Kong’s newly launched satellite manufacturing centre, showcases the city’s potential to become an aerospace hub as it seeks to establish itself as a key player in the US$281 billion global commercial satellite industry.

The global annual demand for satellites of over 30,000 units is currently serviced by a manufacturing capacity of between 6,000 and 8,000 units indicating a big shortfall and growth potential for manufacturers.

“Hong Kong as a place for starting and running businesses has several advantages, namely its status as a member of the WTO in its own right, a separate customs territory and hub of globalisation, its low corporate income tax rate and mechanism for attracting talent,” said Sun Fengquan, Co-Chairman and CEO of Hong Kong Aerospace Technology Group (HKATG) whose subsidiary, ASPACE Hong Kong Satellite Manufacturing Center launched Hong Kong’s first satellite manufacturing centre, considered one of the world’s largest.

The target market for ASPACE Hong Kong Satellite Manufacturing Center is expected to grow to US$30 billion by 2027. HKATG, Hong Kong’s first commercial aerospace enterprise focusing on satellite network engineering and precision satellite manufacturing, was listed on the HKEX in 2018 and its subsidiary launched two satellites last month from Taiyuan Satellite Launch Center under the Golden Bauhinia Constellation project.

The remote sensing data to be obtained by these satellites will be used in fields such as agriculture, meteorology, marine, resources, environmental protection, urban development and scientific experiment. The Group has successfully launched 12 satellites for its Golden Bauhinia Constellation project so far and plans to manufacture and launch the remaining satellites under the Golden Bauhinia Constellation project during the period from the end of 2023 to 2026.