- The African space economy is projected to grow by 16.16% to USD 22.64 billion by 2026. With the remarkable spurt in the African space economy in 2022, the industry is on track to reach this target.
- In 2023, African countries allocated USD 425.01 million to fund space activities, representing a 14.96% and 18.77% decrease compared to the revised budgets of 2022 and 2021, respectively.
- Stiff competition in the broadcast service market has Satellite TV providers losing market share to Pay TV providers due to convenience, affordability, and a more comprehensive content range.
- As of June 2023, 15 African nations (including three multilateral satellites) have invested over USD 4.71 billion in 58 satellite projects. The launch of an additional 105 satellites by 2026 is anticipated.
- 318 NewSpace companies are charting the course of space democratisation on the continent. These companies are involved in emerging technologies such as AI/ML, robotics, big data analytics, small satellite constellations, and spacecraft propulsion.
- Africa’s space assets and infrastructure are expanding significantly, including launch facilities, ground stations, teleports, and astronomy infrastructure. Presently, the continent hosts 355 ground stations, 60 telescopes, 22 planetariums and over 11 renowned observatories.
- Of the 11 African launch facilities, which include previously used rocket launch sites, only three are currently operational, three are proposed, and five are inactive.
- Between 2000 and 2023, African nations have engaged in over 166 bilateral space agreements involving more than 100 institutions from 32 countries worldwide, 90% of which are international agreements with non-African stakeholders. 89 of these agreements were signed over the last three years.
- Africa offers a promising investment landscape, with more than 45 ongoing research and development projects across 10 African countries, focusing on various Sustainable Development Goals (SDGs).
- The bilateral agreements between African countries, foreign nations, and organisations have proven mutually beneficial. Some countries have secured contracts that exceed their investment in the continent, while others invested more than they have received.
To download a free excerpt presentation, click here.