It remains a mystery when China's privately-run Rockets will be able to successfully put into orbit,and its third launch has been delayed than expected.
In January this year,Beijing Star Glory Space Technology Co.,Ltd(hereinafter referred to as Star Glory)announced that it would launch the hyperbolic Y1 launch vehicle into orbit at Jiuquan Satellite Launch Center in the first half of 2019.
However,with July approaching,there is no news of rocket launches from Star Glory.Yao Bowen,assistant president of Star Glory,told TIME Finance and Economics that the launch of the rocket,originally scheduled for June,had been adjusted to July."The previously announced launch time is only expected,and now everything is on schedule."
Even a month's delay adds a bit of anxiety to the industry.Because an important watershed for the success of rocket companies is whether the satellite can be put into orbit.At present,none of the 40 private rocket companies in China has completed this test.
SpaceX,founded by Ironman Eronmask in the United States,is regarded by capital as a benchmarking company for domestic private rocket enterprises.The company completed its first flight test in 2008,about six years before SpaceX was founded.
Although the window period from development to flight test may be shortened,China's private enterprises have been testing water rockets for four years,and they are still in the stage of"making wheels".Capital is losing patience for private enterprises to build rockets."If Star Glory launches successfully in orbit,it will boost the private rocket industry."Some investors pointed out to Times Finance and Economics.
Outbreaks after 2020
Rocket is the only vehicle that can make the object reach the cosmic speed,get rid of the earth's gravity and enter the cosmic space.At present,only the United States,Russia,China,Europe,Japan,India and Israel have rocket launching capability.
Launching satellites is the most important commercial use of rockets.Since the 21st century,advances in mass communication consumption,earth observation,meteorology and other fields have prompted the rapid development of satellite industry worldwide.
In 2018,the total revenue of the global satellite industry was US$277.4 billion,which accounted for 77%of the global space economy based on SIA data.In 2018,the total number of satellites launched worldwide exceeded 300,and the number of satellites operating in orbit reached 2100,an increase of more than 20%.Rockets are the only means of delivery for satellite launches.
At the beginning of the 21st century,American space policy changed to deep space exploration.NASA handed over the responsibility of space activities in low Earth orbit to private enterprises.With the support of U.S.government policy and NASA technology,SpaceX,Orbital ATK,a private space company in the United States,entered the commercial launch market in a large scale and succeeded.
With the emergence of demand for micro-satellite networking,the scale of commercial space launch market is also increasing.At present,more than 18,000 small satellites need to be launched in the global announced constellation network plan.At present,most of these constellation networks are in the preparatory period,and the peak period of orbital entry will be after 2020.
"With the vigorous development of Internet constellations and remote sensing constellations such as OneWeb,Iridium II and Planet in recent years,for the deployment of tens,hundreds or even thousands of satellites,who can launch for customers in large quantities and short periods,who can occupy a place in the launch market."Jiang Wei,production manager of a private rocket enterprise in China,told TIME Finance and Economics.
As the largest private Rocket Company in the world,SpaceX has raised more than$1.6 billion through nearly ten rounds of capital market financing since its establishment.According to CB Insight,SpaceX has become one of seven private companies valued at more than$20 billion worldwide.
The commercial applications of future rockets are far more than launching satellites.Space X has received orders to carry astronauts and cargo for NASA's International Space Station.Today,SpaceX is valued at$28 billion,several times the size of the current launch vehicle market.
Aerospace Talents Run Out of Private Enterprises
The new development of SpaceX has enlightenment for domestic private rocket enterprises,especially with the promotion of civil-military integration policy and the development of private satellite market.Star at the end of 2017,Star Glory,Kyushu Yunjian,Deep Blue Aerospace and other new start-up companies have received financing,and the original enterprises in the field,such as Zero Space and Blue Arrow Aerospace,have received over 100 million yuan of financing.Famous pure financial investors such as Huachuang,Fuxing,Shunwei and Jingwei have also begun to increase.
Similar to the US commercial space development route,most of the technical talents of Chinese private rocket enterprises come from the system.For example,the founder of Starglory is the director of the former R&D center of the First Academy of Aerospace Science and Technology.The main team members of Zero-One Space come from the Academy of Aerospace Science and Technology Group,Aerospace Science and Technology Group,China Aviation Industry,Chinese Academy of Sciences and other academies.
Jiang Weidao,who worked in the Institute of Aerospace Research and joined the private enterprises,gave one reason:"On the one hand,there are limited channels for growth within the system;on the other hand,commercial space is the next emerging high-tech field in the future.Similar to the Internet when it began to rise,there are many opportunities in this emerging field in the future.I hope to invest in this industry as soon as possible and make some progress.
However,rocket is a high-input,high-risk,long-term industry.It has been 17 years since SpaceX was founded,and its revenue increased dramatically in 2017.Its annual sales revenue was about$1.854 billion,three times that of 2016.SpaceX's sales are expected to reach$139.7 billion over the next 15 years,and the surge in valuation is also concentrated in the second half.