BEIJING, Aug. 16 (Xinhua) -- China's private space sector is rapidly emerging as a key player in the nation's pursuit of new quality productive forces and technological advancements. With a focus on innovation, cost-efficiency and rapid development cycles, these companies are making significant strides in the commercialization of space technologies.
RISING STAR IN COMMERCIAL SPACE SECTOR
One such company is iSPACE, a Beijing-based startup founded in 2016. With a team of around 400, it has quickly become a leader in the development of reusable commercial launch vehicles, focusing on medium and heavy reusable liquid-fueled rockets.
The company has already achieved several milestones, including the successful launch and recovery of a suborbital Hyperbola-2Y rocket in 2023, which places iSPACE at the forefront of China's efforts to develop reusable launch vehicles.
In an interview with Xinhua, Anna Choi, vice manager of Beijing Interstellar Glory Space Technology Ltd., also known as iSPACE, shared her insights in terms of the company's progress and the challenges facing the industry. "The combination of technology, cost and efficiency, equals profit, and we see ourselves as a catalyst, driving the entire industry toward greater heights."
China's private space companies are complementing the efforts of the national space program. Synergy between the public and private sectors is driving innovation and accelerating the development of China's space industry as a whole.
While the state-owned enterprises focus on large-scale, high-profile missions, such as lunar exploration and space station construction, private companies are filling a crucial gap in the market by providing more affordable and flexible launch services, and contributing agility, innovation, and a willingness to take risks.
GOVERNMENT SUPPORT, POLICY INITIATIVES
China has attached importance to the development of the private space sector by introducing a number of policies.
The country's commercial space industry has experienced rapid growth since the government opened up the sector to private investment in 2014. In 2023, developing commercial spaceflight was listed among key areas for the development of emerging industries in the government work report. This signaled a shift from a closed system to one that embraces private capital and contributed to fostering a vibrant ecosystem.
As an early entrant, iSPACE is at the forefront of this expansion, contributing to the country's growing number of successful space missions. The industry's progress is driven by the increasing demand for satellite launches and the global race for limited orbital resources.
iSPACE envisions playing a significant role in building China's national constellation projects -- constellations of satellites designed to provide global communication and navigation services.
CHALLENGES AND OPPORTUNITIES
Despite the rapid progress made by China's private space sector, there are still significant challenges to overcome.
One of the biggest challenges is the high cost of spaceflight. Reusable launch vehicles, such as those being developed by iSPACE, are seen as a key solution to significantly lowering launch costs, thereby making spaceflight more accessible.
While acknowledging the challenges and potential setbacks faced by the industry, iSPACE remains optimistic about the future. The company's dedication to technological advancement and its focus on developing reusable launch vehicles position it well for long-term success.
"We're moving from solid to liquid, from suborbital to orbital, and eventually to full reusability," Choi said. "This will not only reduce costs but also enable profitability."
TALENT AND THE FUTURE OF AEROSPACE
iSPACE recognizes the importance of talent in driving its success. With a focus on hiring individuals with both technical and industry experience, it is building a team capable of tackling complex challenges.
"The aerospace sector requires a blend of technical prowess, project management and market understanding," Choi said. "We're fortunate to have a team that embodies all these qualities."
The company is focusing on developing its core products, ensuring their reliability, and expanding its capabilities. They are also actively building their own supply chains and production bases in various provinces.
China's commercial space sector, led by pioneers like iSPACE, is on a trajectory of rapid growth, driven by technological innovation and the pursuit of new quality productive forces. As the sector matures, it is expected to play an increasingly important role in China's economic development and technological advancement. ■
