Beijing – China will establish a commercial rocket development and launch company, Hu Shengyun, Chief Model Designer of China Sanjiang Space Group (CSSG), said on Tuesday in Beijing.
He added that Kuaizhou-11, the company’s latest carrier rocket, is scheduled to conduct a commercial launch in 2017.
Shengyun, also a national legislator, said the company had been planning to set up a dedicated company as part of the commercialisation of the Kuaizhou series carrier rockets.
He said the undertaking has attracted the attention of certain Internet giants.
CSSG, which is located in central China’s Hubei Province, launched Kuaizhou-1 and Kuaizhou-2 solid-fuelled carrier rockets in 2013 and 2014. Kuaizhou means speedy vessel in Chinese.
Shengyun said the commercial use in space industry is a huge market.
“Commercialisation can help us make our mark in the market, as it will reduce the cost in satellite development and launch services.
He stressed that in U.S., commercial satellites accounted for more than a half of the satellites in orbit.
Shengyun, however, said China was yet to secure a sizable space for itself in the market. (Xinhua/NAN)