Hong Kong Aerospace Technology Group's ASPACE Hong Kong Satellite Manufacturing Center Holds Grand Opening
Hong Kong SAR, China--(Newsfile Corp. - July 25, 2023) - Media OutReach - Hong Kong Aerospace Technology Group Limited (HKG: 1725.HK) ("Hong Kong Aerospace Technology Group" or "the Group"; Stock Code: 1725) is excited to declare the official inauguration of its subsidiary, ASPACE Hong Kong Satellite Manufacturing Center, today. This center, being the inaugural satellite manufacturing center in Hong Kong and one of the biggest intelligent satellite manufacturing facilities globally, signifies a crucial achievement in the advancement of the city's aerospace technology sector.
The grand opening of the Hong Kong Aerospace Technology Group's satellite manufacturing center, known as ASPACE Hong Kong, took place on July 25th. This momentous occasion signifies a significant milestone in the growth of Hong Kong's aerospace technology industry, as it is not only the city's inaugural satellite manufacturing center but also one of the largest and most sophisticated facilities of its kind worldwide.
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Over 150 delegates from multiple nations and regions involved in the commercial aerospace industry, including governmental organizations, non-profit groups, businesses, and government agencies, gathered at the opening ceremony. They witnessed the beginning of a new era in the global commercial space sector. Furthermore, agreements were signed with various foreign organizations and agencies from different countries, with the aim of fostering collaboration in the research, development, and operation of commercial satellites. This collaboration would cover areas such as satellite communications, monitoring, telemetry, command, data analysis, and other related fields.
Over 150 delegates from various countries and regions involved in the commercial aerospace sector, including inter-governmental organizations, non-governmental organizations, companies, and government bodies, gathered at the inauguration event. They observed the beginning of a new chapter for the international commercial space industry.
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Professor Dong Sun, who holds the position of Secretary for Innovation, Technology, and Industry in the Government of the Hong Kong Special Administrative Region, expressed satisfaction at the official inauguration of the ASPACE Hong Kong Satellite Manufacturing Center. This facility is located in the Advanced Manufacturing Centre at the Hong Kong Science Park in Tseung Kwan O. Professor Dong Sun deemed it a valuable demonstration of Hong Kong's "New Industrialization" concept. In December of the previous year, the Government of the Hong Kong Special Administrative Region announced the "Hong Kong Innovation and Technology Development Blueprint," which highlights the future direction and strategy for innovation and technology development in Hong Kong. As part of this blueprint, the government will actively support the growth of leading industries like advanced manufacturing in Hong Kong. The goal is to achieve the city's vision of "New Industrialization," which will not only drive the expansion of various sectors but also generate more employment opportunities for skilled workers and further diversify Hong Kong's economy. The Innovation, Technology, and Industry Bureau intends to encourage more advanced manufacturing companies to establish themselves in Hong Kong and take advantage of the city's status as a global hub by expanding into new markets.
Mr. Sun Fengquan, the Co-Chairman and CEO of Hong Kong Aerospace Technology Group Limited, expressed his satisfaction with the opening of ASPACE Hong Kong Satellite Manufacturing Center. This is a significant milestone for the development of Hong Kong's aerospace industry and precision manufacturing. The Hong Kong government has been actively supporting precision manufacturing and re-industrialization in recent years, which has greatly benefited the establishment of ASPACE Hong Kong Satellite Manufacturing Center. Hong Kong is an ideal location for business due to its unique advantages, such as its status as a separate member of the WTO, a distinct customs territory, global connectivity, a low corporate income tax rate, and talent attraction mechanisms. Capitalizing on these advantages, ASPACE Hong Kong Satellite Manufacturing Center will collaborate with other subsidiaries of the group, including Hong Kong Satellite Telemetry, Tracking and Control Center, and Hong Kong Satellite Data Application Center. These subsidiaries have also commenced operations, and together they will achieve synergy in satellite manufacturing and satellite data services. This integration is expected to reduce manufacturing and service costs by more than 20%, enhancing the group's competitiveness in the global market in terms of efficiency and services.
The ASPACE Hong Kong Satellite Manufacturing Center is situated in the Advanced Manufacturing Centre at the Hong Kong Science Park in Tseung Kwan O. It occupies an area of around 200,000 square feet. The center is well-equipped with 18 sub-systems and over 200 advanced devices. These include a wide range of equipment for the intelligent manufacturing and testing of satellites. The equipment covers various aspects such as the overall structure, optical calibration, vibration, mechanical performance, electromagnetic compatibility, thermal control, and precision. Moreover, the center boasts a team of research and development experts who have extensive experience in aerospace technology. With their expertise, the center is capable of producing more than 200 commercial satellites annually. These satellites range in weight from 30 to 10,000 kilograms and serve purposes like communication, navigation, optical and radar remote sensing, as well as carbon emissions detection.
Many nations have included the aerospace industry in their national development plans, which has resulted in the rapid growth of the commercial aerospace sector. The global demand for satellites is over 30,000 units per year, but the current global manufacturing capacity can only produce 6,000 to 8,000 units annually, falling significantly short of the industry's needs. The ASPACE Hong Kong Satellite Manufacturing Center aims to tap into this market, which is projected to reach $30 billion by 2027, indicating substantial business potential. By collaborating with other subsidiaries such as the Hong Kong Satellite Telemetry, Tracking and Control Center, the Hong Kong Satellite Data Application Center, and the planned ASPACE Hong Kong Satellite Launch Center, the ASPACE Hong Kong Satellite Manufacturing Center will create synergies that cover research and development, manufacturing, testing, telemetry, tracking, control, the Golden Bauhinia Constellation, and satellite data application. This comprehensive approach will offer customers worldwide a complete solution, which includes satellite payload design, manufacturing, testing and qualification, launch, telemetry, tracking and control, as well as satellite data application. The aim is to drive the growth of the global commercial aerospace industry and meet its demands.
According to Mr. Sun, Hong Kong Aerospace Technology Group and ASPACE will stay committed to the idea of sustainable progress, making valuable contributions to global technological advancement and facilitating the integration of intelligent technology into our daily routines.
This announcement bears the entire responsibility of its content by the issuer.
Introducing Hong Kong Aerospace Technology Group Limited (HKATG)
Hong Kong Aerospace Technology Group Limited (HKATG) is the first company in Hong Kong that focuses on building satellite networks and manufacturing satellites with extreme precision. The company, previously known as Hentech Technologies Ltd, was established in 2003 and is considered a leader in the commercial aerospace industry and technological advancements in the city. HKATG owns and operates five different centers and manufacturing bases including a satellite manufacturing center, a center for monitoring space environments, a facility for tracking and controlling satellites, a center for applying satellite data, and a center specializing in electronic manufacturing. The key operations of HKATG include engineering satellite constellations (such as the Golden Bauhinia Constellation and Aurora Constellation), utilizing satellite data, designing and manufacturing satellites, assembling and testing satellites, selecting and determining specifications for satellite payloads, offering telemetry, tracking, and control services for satellites, carrying out printed circuit board assembly (PCBA) and electronic manufacturing, as well as launching satellites.
For more details, kindly visit the website: https://www.hkatg.com/index.html.
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