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"Satellites and rocket launches are the two most obvious activities for the public to understand the space industry," LinkSpace CTO Chu Longfe told CGTN.
Founded in January 2014, LinkSpace was the first private company focused on vertical takeoff and vertical landing (VTVL) rockets and reusable technologies.
Citing an SIA analysis that shows global rocket makers account for less than 2 percent of the global space economy, while the satellite services and manufacturing sector accounts for up to 35 percent, Chu Longfe said rocket launching is the most cost-effective activity in the entire industry.
"It's like a billion-dollar infrastructure to launch a market worth hundreds of billions ," Chu Longfe said.
After state-owned enterprises China Aerospace Science and Technology new zealand telegram number database Corporation (CASC) and China Aerospace Science and Industry Corporation (CASIC) dominated the industry for more than 60 years, a combination of capital and policy has attracted more talent to develop the commercial space industry sector, spurring overall business growth.
However, compared to global launch capabilities and satellite ownership, the gap between China and the international level is larger than the market size suggests.
Intense competition acts as a catalyst
From January to September 2021, there were 1,178 newly launched satellites in orbit, while the annual launch in 2020 was 1,283. Of these, 835 belonged to the United States.
China currently has 431 satellites in space, including commercial and government ones, ranking second in total satellite ownership in the country.