Landspace Technology Corporation, a private aerospace business based in Beijing, has signed a contract with a Danish firm to become the first Chinese company to develop its own commercial rockets and provide services to the international marketplace.
The deal will see the launch of a series of Gomspace satellites to a near equatorial orbit, using the Chinese company’s LandSpace-1 rocket starting next year. GOMspace which was founded in 2007 and is located in Denmark, provides high quality third generation Cubesat compatible subsystems and platform solutions to the expanding nano- and Cubesatellite markets.
Speaking at the signing ceremony, Landspace CEO Zhang Changwu was complementary of the decades of effort that has been made by Chinese staff in the aerospace sector, without which it would not be possible to initiate next year’s launch.
"China's aerospace industry has been developing for 60 years, and we will take part in the next chapter," he added.
Speaking of the impact that the aerospace industry has on economic and social development, along side the obvious benefits of space exploration, Sun Jiadong, an academician of the Chinese Academy of Sciences added that the civil aerospace industry has great potential and will grow very quickly.
And with market predictions showing that by 2020, the total value of the global aerospace market will reach 485 billion U.S. Dollars, while the market value in China alone could reach 800 billion yuan (116 billion U.S. dollars) during the 2016-2020 period, the sentiment is probably right.