HONG KONG, Feb. 16, 2022 /PRNewswire/ -- The omicron variant continues to rage through the world, to prevent the spread of disease, HKSAR previously imposed a series of measures which have been taken since 10 February. Any person who enters shopping malls, department stores, supermarkets, markets is now required to use the "LeaveHomeSafe" mobile application and comply with the relevant requirements under the "vaccine pass". In the face of a global pandemic, the use of big data and innovative technology to deal with the epidemic has become the top priority. The "Yuekang code" system currently implemented in Hong Kong and the HA Go app developed by the Hospital Authority to provide a teleconsultation to patients, as well as the "CleanTech" plus the robotic baggage handling system introduced by HKIA, all reflect that Hong Kong has accelerated the pace of urban transformation.
Low-orbit satellites have become Consumer Staples
Although the epidemic has had a major impact on many sectors, it is undoubtedly a great opportunity for Hong Kong Aerospace Technology Group, Ltd. (1725)(HKATG). According to the latest survey on the long-term prospects of urban smart development by KPMG China, the world's four largest accounting firms, as the COVID-19 outbreak continues, the public is paying more and more attention to the sustainability of smart cities, and at the same time adopting more digital services, the market is full of confidence in the long-term prospects of urban smart development. 84% of respondents in Hong Kong SAR, nine mainland China cities within the Greater Bay Area (GBA), Bangkok, Ho Chi Minh City, Kuala Lumpur, Singapore and Shanghai say their interest in sustainability initiatives has increased since the start of the pandemic, and the pandemic has boosted their awareness of new technologies and applications that have improved their quality of life, according to KPMG's survey of 4,096 residents.
Andrew Weir, Regional Senior Partner, Hong Kong and Global Head of Real Estate of KPMG estimated that the coming decades hold great promise for Hong Kong's continued development as a smart and sustainable city, and Hong Kong is in a strong position to develop use cases that can be applied to other markets in the rest of the GBA and ASEAN. As HKATG plans to launch 25 satellites to form the "Golden Bauhinia Constellation" with complete coverage of 11 city clusters in the Guangdong-Hong Kong-Macao Greater Bay Area is perfectly in line with the digital transformation in the post-pandemic era.
LEO satellite market to grow 22% year-on-year
TBRC Business Research, an international research organisation, released the latest issue of "the Global Low-Earth Orbit Satellite Market" report on 8 February, the report provides relative low orbit satellite market growth and information related to geography, product type, application and end-use industry. The research report also analyzes 20 global low-orbit satellite markets, market development strategies revised in response to the pandemic, and expects the global low-orbit satellite market to grow at a compound annual growth rate of 22% by 2025. In "Satellite Payload Market, 2021-2028", a report published by Fortune Business Insights, it predicted that the global low-orbit satellite market will reach $27.58 billion by 2028.
With the opening of the rooftop satellite station facility at the Advanced Manufacturing Centre premises in Tseung Kwan O, HKATG has important strategic significance for optimizing and improving the layout of Hong Kong's aerospace industry, promoting the sustainable development of the aerospace industry, and Hong Kong's infrastructure construction, bringing positive effect to the prosperity of regional industries, as well as the health and well-being of the citizens of the Greater Bay Area.
