China's commercial space sector is rapidly gaining momentum as innovative companies like Beijing Interstellar Glory Space Technology, better known as iSPACE, make significant strides in the industry.
In December 2023, iSPACE successfully tested its reusable launcher, marking a pivotal step toward a fully functional, domestically manufactured reusable rocket. This achievement underscores China's ambition to position itself at the forefront of space technology.
Since its inception in 2016 with just a handful of employees, iSPACE has expanded to over 400 staff members. The company's growth reflects the broader expansion of China's commercial aerospace industry, which has seen over 10 successful launches by private companies in 2023 alone.
iSPACE's journey began with the SQX-1 Y1 rocket in 2019, successfully sending two satellites into a 300-kilometer orbit— a first for a private Chinese company. The recent test of the Hyperbola-2Y reusable rocket, a liquid oxygen and methane carrier, sets the stage for launching a reusable medium-lift rocket by late 2025.
Government support has been crucial in this growth. In February 2024, Beijing unveiled plans for \"Rocket Street,\" a dedicated research and production hub aimed at advancing the commercial aerospace sector. Subsidies for innovation centers and initiatives to attract private investment are fueling the industry's rapid development.
Anna Choi, vice manager of iSPACE, highlighted the sector's potential, stating, \"This is a sector that requires pioneering courage. We are committed to innovation and confident for the catch-up and beyond.\"
As China continues to develop strategically important and future-oriented industries, its commercial space sector stands as a testament to its pursuit of sustainable growth and technological excellence.
Reference(s):
China's commercial space sector takes off amid tech innovation push
cgtn.com
