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HONG KONG, July 25, 2024 /PRNewswire/ -- USPACE Technology Group Limited ("USPACE " or "the Group"; Stock Code: 1725.HK) is pleased to announce the rollout of 6 commercial optical satellites (For details, please refer to Appendix) and related aerospace products. With a highly competitive pricing strategy, the Group aims to enter the global market and expand its customer base, capturing the rapidly growing demand from emerging markets and small and medium-sized enterprises (SMEs). It marks a new milestone in USPACE's satellite mass production and commercialization efforts, representing a significant step forward in the Group's globalization strategy.
On 25 July 2024, marking the first anniversary of the establishment of the Group's ASPACE Hong Kong Satellite Manufacturing Center, the Group unveiled its disruptively low-priced commercial optical satellites on its official website. These satellites offer resolutions ranging from 5 meters to 0.5 meters and are priced between USD35,000 and USD990,000. Among them, the most notable in the market is the commercial optical satellite with a high resolution of 0.5 meters, priced at only USD990,000. The Group also plans to offer nearly a hundred types of satellite components and application services, including separation seats, multi-satellite dispensers, and 0.5-meter resolution lightweight cameras.
The Group is confident that through this series of satellite products, it can directly participate in the competition of the global commercial aerospace market, rapidly enhance its brand awareness, significantly expand its customer base and further increase its market share.
The growth potential of the commercial optical satellite market is enormous. With the rapid development of emerging technologies such as the Internet of Things and artificial intelligence, the demands for satellite remote sensing data, communication services, and navigation and positioning are increasing rapidly. The emergence of commercial optical satellites with competitive advantages and huge market demand will effectively lower the barriers to entry for various satellite applications, unleashing market potential and creating tremendous commercial value.
In July 2023, USPACE successfully completed the construction of its 20,000 square meter ASPACE Hong Kong Satellite Manufacturing Center, the first of its kind in the city. The center boasts the capability to simultaneously develop multiple types of satellites, including communication, navigation, remote sensing, and radar satellites ranging from 10 kilograms to 1,000 kilograms, with an annual production capacity of 500 satellites.
USPACE's globalization strategy continues to make substantial progress. The Company is gradually building a complete aerospace ecosystem, while innovating and creating core satellite products.
Appendix: Price List of USPACE's Commercial Optical Satellites
Product | Price |
0.5-meter resolution commercial optical satellite | USD990,000 |
0.75-meter resolution commercial optical satellite | USD740,000 |
1-meter resolution commercial optical satellite | USD450,000 |
1.5-meter resolution commercial optical satellite | USD300,000 |
3-meter resolution commercial optical satellite | USD90,000 |
5-meter resolution commercial optical satellite | USD35,000 |
On 25 July, marking the first anniversary of the establishment of USPACE's Hong Kong Satellite Manufacturing Center, the Group launched disruptively low-priced commercial optical satellites on its official website’s product center. With a highly competitive pricing strategy, the Group aims to enter the global market and expand its customer base. It signifies a new milestone in the Group's satellite mass production and commercialization efforts, representing a significant step forward in its globalization strategy.
About USPACE Technology Group Limited (USPACE)
USPACE Technology Group Limited (USPACE) is headquartered in Dubai, United Arab Emirates and Hong Kong, China. The Company is committed to using outer space technology and application services to promote the sustainable development of the Earth and the progress of human society, aiming to become a leading provider of outer space technology and Earth application services.
The Group focuses on satellite manufacturing as the core of its business development, building an integrated commercial aerospace ecosystem, including satellite component manufacturing, precision electronics manufacturing, satellite data applications, satellite measurement and control, satellite launches, and the operation and management of the Abu Dhabi Space Eco City in the United Arab Emirates.
For further information, please visit https://www.uspace.com/
source: USPACE Technology Group Limited
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