China’s space industry is making strides in the development of reusable rockets, with a local startup aiming to challenge the dominance of SpaceX in this field.
What Happened: Beijing-based startup Orienspace is working on a reusable rocket named Gravity-2, with its maiden flight expected to take place in late 2025 or early 2026, Bloomberg reported on Monday. The company, which recently completed its first launch of a single-use rocket, is aiming to close the gap with SpaceX and reduce the costs associated with satellite launches.
Other Chinese companies, including startups and state-owned enterprises, are also working on reusable rocket technology. This includes Beijing Interstellar Glory Space Technology, also known as i-Space, which conducted a test in December, and a subsidiary of state-owned China Aerospace Science and Industry Corp.
Despite the progress made by Chinese companies, SpaceX, led by Elon Musk, remains the global leader in the field of reusable rockets. However, the Chinese space industry is growing rapidly, attracting significant investments and increasing demand for launch services.
Orienspace is also focusing on sea-based rocket launches, which offer flexibility and cost-effectiveness for companies looking to increase their launch frequency. The company has planned three to five rocket launches in 2025 and five to eight in 2026, with a goal of reaching a launch frequency of 10 times a year within three years.
Why It Matters: China’s space program has been making significant strides in recent years. In May, Elon Musk praised China’s space program, stating that it was more advanced than most people realized. This acknowledgment came hours before China launched three astronauts to its space station as part of its Shenzhou-16 mission.
In November, Musk touted SpaceX’s world record of delivering over 1000 tons to orbit in a year, outmatching the total payload of any other country. He highlighted that China was the major contributor to the approximately 250 tons delivered by the rest of the world, excluding SpaceX.
However, China has also been critical of the U.S. in the space domain. In December 2021, China filed a complaint to the United Nations claiming that SpaceX satellites narrowly avoided striking its space station, accusing the U.S. of violating the Outer Space Treaty.
Recognizing the growing Chinese threat in space, the Pentagon has been pouring billions into the space industry to maintain U.S. dominance in this critical domain. China’s rapid progress in reusable rocket technology further underscores the need for continued US investment and innovation in the space sector.
Image Via Shutterstock
Engineered by Benzinga Neuro, Edited by Kaustubh Bagalkote
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
