The first of 165 satellites is being built by Hong Kong Aerospace Technology Group (HKATG) and getting ready to launch the low-orbit high frequency satellite, the "Golden Bauhinia No.1", in June from China. The planned launch marks an important milestone in the company's "Golden Bauhinia" space remote sensing project.
According to the U.S. Satellite Industry Association (SIA), commercial aerospace revenue was US$277.4 billion in 2018 and is expected to increase 10 percent per year. Reinforcing the fact that the rapid development of international commercial aerospace makes it one of the most dynamic industries after the internet, AI and 5G. The strategic value of the aerospace industry has driven investment into commercial aerospace organizations in Europe and America, with the market value of commercial aerospace enterprises listed in the U.S. continually reaching new heights.
Humanity is shifting from needing an aerospace industry to dependency; with the strategic and commercial value of space infrastructure becoming ever more apparent. As the modern aerospace industry takes shape, the value of orbit and spectrum base resources will become highly sought-after "space real estate".
HKATG is the first International Astronautical Federation's member in Hong Kong. Mr. SUN FENGQUAN, Chairman of the Board of Directors of HKATG, said that the Greater Bay Area aerospace industry generates tens of billions of dollars in demand each year. The new development direction of HKATG is centred on regional urban agglomeration, and launching the "Golden Bauhinia Constellation".
Using mobile target monitoring, space AI and dynamic change monitoring, the "Golden Bauhinia Constellation" aims to achieve commercial application and development of communications, navigation, and remote sensing systems with global 24-hour online tracking and the ability to re-visit key areas in under 30 minutes.
The "Golden Bauhinia" project aims to launch 165 low-orbit, high-frequency satellites in 2020 covering the Guangdong-Hong Kong-Macao Greater Bay Area and serve the world's fastest-growing urban centres. The satellite to relaunched in June was designed, manufactured and patented by HKATG.