Azerbaijan discloses volume of investments in space industry in last 10 years

Azerbaijan has invested about $600 million in the space industry over the last 10 years, said Samaddin Asadov, Chairman of the Board of Azercosmos, Space Agency of Azerbaijan.

He made the remark at a plenary session themed “Space 2030 - Policies and Strategies in Global Space Economy” held as part of the 74th International Astronautical Congress, News.Az reports.

“We are working with the government, different stakeholders to attract funding in further space exploration. Azerbaijan has also adopted a relevant strategy for space industry development by 2030. Over the last 10 years, we have invested about $600 million in the space industry, and no less than that will be invested over the next 10 years,” he said.

Asadov noted that Azerbaijan and Israel have also signed an agreement, according to which observation satellites will be purchased from the Israeli side.

“This will open up opportunities not only for Earth observation, but also to manufacture satellites in Azerbaijan in future,” he explained.

The Azercosmos board chairman said that Azerbaijan will continue to invest in various space programs.

“We plan to launch telecommunication satellites in the upcoming years. After 2030 we will think about deep space, such as lunar, mars exploration, and interplanetary exploration,” Asadov added.


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