China’s commercial space industry posts rapid growth

Beijing, China - China's commercial space industry is soaring to new heights, witnessing rapid growth and becoming a thriving sector complementing the country's space endeavours.

As per a report from People's Daily, in early 2024, a carrier rocket engineered by the Chinese company Orienspace achieved a successful deployment of three satellites into orbit from the shores of Shandong province.

The Gravity-1 rocket, acclaimed as the world's largest solid-propellant launch vehicle, has notably increased its payload capacity to 5-6 tonnes while simultaneously cutting down launch expenses by more than 30%.

In 2023 China completed 26 commercial launches accounting for 39% of its total launches, with a 96% success rate. Leading companies like Landspace, ispace, and Chang Guang Satellite Technology are innovating in areas like reusable rockets, new propellants, and satellite constellations.

"Commercial space activities are bursting with vitality, demonstrating enormous market potential," said experts. High-frequency commercial launches and intensive deployment of low-earth orbit satellite networks are expected trends.

Over 80% of Orienspace's staff work in research and Chang Guang has invested $180mn so far. This technological progress promotes industrial innovation along the whole value chain.

Commercial space benefits society through services like remote sensing data, disaster monitoring, and satellite communications enabling connectivity even in remote areas. Costs for such services have plummeted thanks to increasing competition.

Analysts believe China's rich talent pool in space technology, along with the nation's huge market demand, provide strong tailwinds for further commercial space development and diverse applications in the years ahead.