ISU - Summer 2024

African space and satellite industry valued at USD 19.49 billion

Credit: Space in Africa

Edinburgh, 18 August 2022. – Space In Africa published the the African Space Industry Annual Report displaying how space economy is becoming a strategic tool for boosting the national economy and contributing toward achieving the Sustainable Development Goals (SDGs) in Africa. 

According to the report, the African space industry was valued at USD 19.49 billion in 2021. This number is expected to grow by 16.16% to USD 22.64 billion by 2026. The African space economy employs a workforce of over 19,000 people, with the government being the biggest employer having 11,000 staff members.

African nations allocated a total of USD 534.9 million for space programmes in 2022. The report states that this means a 2.24% increase from the revised USD 523.2 million in 2021. The connectivity gap on the continent is expected to be bridged via satellite communications. Meanwhile, GNSS (Global Navigation Satellite System) services and satellite TV remain the most significant contributors to Africa’s space economy.

The report also claims that 13 African nations have manufactured 48 satellites by 2022, with 272 NewSpace companies present on the continent. Furthermore, a paradigm shift is seen from large to small satellites, primarily due to lower entry barriers.

The 2022 edition of the Annual Report presents data and analyses on projects, deals, partnerships, and investments across the continent. Furthermore, it also analyzes the growing demand for space technologies, data, business opportunities and regulatory requirements in the various countries. 

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