Africa’s Space and Satellite Industry is now worth $19.49 billion, surpassing the continent’s GDP growth rate. The industry has a projected 16.16% increase to $22.64 billion by 2026. It is contributing tremendously to enhancing Africa’s economy and accomplishing Sustainable Development Goals (SDGs). The industry is aiding in employment and growing Africa’s economy. Over 19,000 people are employed by Africa’s Space and Satellite Industry, while over 11,000 people by the government. In 2022, African nations administered $534.9 million to national space programs, a 2.24% increase over the $523.3 million from the 2021 budget. The most significant budget increase occurred in 2021, when it increased by 80.83%, contributing to the high shift the industry is showing.
Satellite communication plays a critical role in bridging Africa’s connectivity gap. The Global Navigation Satellite System (GNSS) services and the satellite TV segment are the most important contributors to the African space economy. Mobile Satellite Services (MSS) and Satellite TV services help to fuel Africa’s massive growth in space and satellites. Numerous African countries are improving their space application goals with national priorities ranging from space democratization to propulsion and launch technology development, human capacity development, and local and international space partnerships. In addition, satellite TV operators such as DSTV, Canal+ Afrique, and StarTimes dominate the market regarding revenue generation, subscriber base, and countries served.
The African space industry faces challenges in utilizing several technological advancements due to a lack of skilled human resources in all space industry sectors. The increased investment is driving this issue from all space actors to improve expert education and training, resulting in a slow but visible change in the African space industry. According to reports, in 2022, 31 African countries produced 48 satellites, with 272 NewSpace companies charting a course for the continent. The report also shows increasing demand for space technologies, data, business opportunities, and regulatory requirements in various countries, presenting data and analyses on projects, deals, partnerships, and investments from across the continent.
