Tehran Times – The development of the space-based business market is the priority of the Iranian Space Agency (ISA) for the current Iranian calendar year (ending on March 20, 2020), the ISA director wrote on his Instagram account.

“We are doing our best to expand the market for space-based businesses using capacities of all provinces,” he said.

Each province can create business and job opportunities according to its capacities and strong points in order to increase efficiency and to preserve resources, he explained.

Referring to an exhibition of space products, which is to held from July 7 to 9 in Tehran, he called the event as a great opportunity for space-based businesses to be connected to a network and meet the demands of different organization with innovative services.

Organized by the Iran National Innovation Fund and the Iranian Space Research Center, a series of meetings on IT and innovation will be also held on the sidelines of the event.

In March, the head of the Iranian Space Research Center, Hossein Samimi, announced that the center was working on five key projects which were considered as the main achievements of Iran’s space technology.

According to an agreement signed in February between the Iranian Space Research Center and the Ministry of Agriculture, remote sensing satellites are planned to be used in different sections of the agricultural industry,

The center has already provided a map of the cultivated area, which provides more than 95 percent of the national rice market in five provinces.

According to Morgan Stanley, it is estimated that the global space industry could generate revenue of $1.1 trillion or more in 2040, up from $350 billion, currently. Yet, the most significant short- and medium-term opportunities may come from satellite broadband Internet access.