Economic benefits of spending on space development
- Paper number
IAC-23,E3,3,6,x77751
- Author
Ms. Khadija Aliyeva, National Aviation Academy - Azerbaijan, Azerbaijan
- Year
2023
- Abstract
The trend of recent years shows that the innovative and technologically advanced satellite industry has become one of the most efficient and profitable business areas in the world. According to the European Satellite Operators Association, every 1 euro of public funds invested in the satellite industry directly or indirectly generates 47 euros. According to the statistics provided by the Satellite Industry Association, in 2011 the revenues of the satellite industry worldwide were 177.3 billion US dollars. The National Aerospace Agency has been operating in Azerbaijan since 1973. Tofig Suleymanov, the first deputy general director of this agency, said in a press release that the creation of the space industry and the presence of Azerbaijan's own national satellite in space will be very effective from an economic point of view. Azerbaijan will be able to improve its communication system, and then it will benefit from it in the study of natural resources and obtaining operational information. All this means a large number of new jobs, incentives for the development of other areas of the economy, etc. It should be noted that Azerbaijan's decision to launch its own artificial satellite into space and the decisions made later on the establishment of the space industry in the country were not met unequivocally. Many experts interpreted it as a waste of money.However, the further development of the processes changed the tone of these discussions. Now there are more and more people talking about investing in space as the right step towards the future. "Azerspace-1" satellite was launched on February 8, 2013. According to official data, the total cost of "Azerspace-1" is 233 million dollars. "Azerkosmos" OJSC plans to get 420 million dollars of net income from the operation of this satellite. "Azerspace-2" has not yet been put into orbit, 46 percent of its capacity has already been sold to "Intelsat", the world's leading satellite services company. Payments under this contract provide reimbursement of 60 percent of the project cost and financing costs. Currently, active business negotiations are being conducted with other countries regarding the sale of the remaining capacities of the satellite. It should also be noted that the assistance received from space in various military operations is safer for people and more economically efficient. I hope that the development of space will only be used for economic and security purposes for our future, not for war and violence.
- Abstract document
- Manuscript document
IAC-23,E3,3,6,x77751.pdf (🔒 authorized access only).
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