As the commercial space industry continues to expand, emerging companies are making significant strides in satellite deployment. A prime example is Interstellar Glory Space Technology, a Chinese startup also known as iSpace. The company has recently achieved a significant milestone by successfully launching China’s first commercial rocket capable of carrying satellites into orbit. This feat marks a significant shift in an industry which was once monopolized by state research agencies and the military.
The Successful Launch
iSpace designed the 20-metre (66-foot) rocket named Hyperbola-1. It reached an altitude of 300 kilometres (186 miles), signifying a key success in the country’s space technology. This accomplishment is particularly notable because two other private Chinese rocket builders, LandSpace and OneSpace, both experienced failure in launching their rockets into orbit in 2018.
The Commercial Space Industry in China
China opened the doors for private companies to enter the space industry in 2014, allowing them to build and launch satellites. Dozens of Chinese companies have since been competing for a share in the global space industry. According to Morgan Stanley, this industry is estimated to reach a staggering value of about $1 trillion by 2040. At present, the sector is predominantly led by SpaceX and Blue Origin, both based in the US.
Interestingly, Chinese startups, including iSpace, are focusing on developing technology to launch microsatellites, diverting from the space tourism trajectory pursued by their US counterparts.
Microsatellites: A Lucrative Market
Microsatellites, typically no larger than a shoebox, serve various practical purposes. They can monitor crops, weather patterns, or disaster sites, and they can also be used by universities for research purposes. Due to their small size, they are cheaper to build and easier to deploy than traditional truck-sized satellites. As such, the launch of microsatellites has become a lucrative market.
| Company | Country | Focus Area |
|---|---|---|
| iSpace | China | Microsatellite Deployment |
| LandSpace | China | Rocket Building and Launching |
| OneSpace | China | Rocket Building and Launching |
| SpaceX | US | Commercial Space Travel |
| Blue Origin | US | Commercial Space Travel |
Who Dominates The Microsatellite Market?
Currently, the Indian Space Research Organisation (ISRO) has the upper hand in the microsatellite market. However, with the growing interest and innovations from Chinese startups like iSpace, the landscape of the commercial space industry may see a shift in the coming years.
