Latest Cover Story | Satellite Internet at a Turning Point: The Commercial Space Wave Has Begun (AI Translation)
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文｜财新周刊 黄晏浩
By Caixin Weekly's Huang Yanhao
文｜财新周刊 黄晏浩
By Huang Yanhao, Caixin Weekly
1月23日13时15分，长征六号改运载火箭将“千帆星座”第四批组网卫星带入太空，“千帆星座”龙年在轨卫星数量定格在72颗。
At 1:15 PM on January 23, the Long March 6A carrier rocket launched the fourth batch of "Qianfan Constellation" network satellites into space, bringing the number of in-orbit satellites in the "Qianfan Constellation" to 72 in the Year of the Dragon.
“千帆星座”是继央企中国卫星网络集团有限公司（下称“中国星网”）的“GW星座”之后，中国第二个大型卫星互联网星座，由上海市国资委投资的上海垣信卫星科技有限公司（下称“垣信卫星”）为实施主体。2024年2月，垣信卫星以一笔67亿元的A轮融资震惊业内，8月6日完成第一次卫星发射，此后共进行四次“一箭18星”，平均间隔不到43天；它规划有1.5万颗低轨卫星，并预计2025年部署一期648颗卫星——其起势之猛、动作之快、野心之大，在2024年尤为引人关注。
The "Qianfan Constellation" represents China's second major satellite internet constellation, following the "GW Constellation" developed by the state-owned China Satellite Network Group Co., Ltd., known as "China SatNet". The project is spearheaded by Shanghai Yuanxin Satellite Technology Co., Ltd. ("Yuanxin Satellite"), an entity backed by the Shanghai State-owned Assets Supervision and Administration Commission. In February 2024, Yuanxin Satellite made waves in the industry with a staggering 6.7 billion yuan Series A financing. On August 6, it completed its first satellite launch, followed by four launches, each carrying 18 satellites, with an average interval of fewer than 43 days. The company plans to deploy 15,000 low-Earth orbit satellites, with the first phase of 648 satellites expected to be operational by 2025. Its rapid ascent, swift maneuvers, and ambitious goals have particularly captured attention in 2024.
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- China's "Qianfan Constellation" satellite network, launched by Yuanxin Satellite, plans to operate 15,000 low-Earth orbit satellites, with the first 648 satellites operational by 2025.
- The Shanghai-based Yuanxin Satellite rapidly advanced its project and secured 6.7 billion yuan for continuous satellite launches, making notable progress in China's 2024 commercial aerospace sector.
- SpaceX remains a leading player globally, completing 134 launches and deploying 1,962 Starlink satellites in 2024, driving a significant portion of the industry’s evolution towards reusable rockets and satellite internet.
[para. 1] On January 23, the Long March 6A rocket launched the fourth batch of "Qianfan Constellation" network satellites, raising the number of in-orbit satellites in this constellation to 72. The "Qianfan Constellation" is China’s second significant satellite internet constellation after the "GW Constellation." It is backed by Shanghai Yuanxin Satellite Technology Co., Ltd., showing ambitious growth with plans to deploy a total of 15,000 low-Earth orbit satellites by 2025.
[para. 2] China's commercial space sector experienced a "mini-boom" in 2024, supported by substantial investments and potential industrial growth, paralleling experiences in photovoltaics and electric vehicles. The year also witnessed developments in satellite internet systems, reusable rockets, the Hainan launch site, and pre-sale of space tourism tickets. However, incidents like the Tianlong-3 rocket accident raised concerns about private aerospace companies' safety and regulatory needs.
[para. 6] SpaceX maintained its lead as the most prominent global commercial space company, completing 134 orbital launches with a valuation of $350 billion. It demonstrated the importance of a closed-loop commercial space industry by combining affordable rocket launches and a stable demand for launches through its Starlink satellites.
[para. 7] Since 2015, China has encouraged private enterprises to engage in commercial spaceflight, marking what was regarded as the "first year of commercial spaceflight" in China. Industry leaders believe satellite internet's progress is indicative of growing momentum in the entire sector.
[para. 9] Yuanxin Satellite attracted significant industry attention by securing 6.7 billion yuan in Series A funding to expand satellite internet capabilities. The funding will primarily support constellation construction and market expansion, with lead investors focusing on growth in manufacturing transformation and technology innovation sectors.
[para. 11] HorizonSat carries a solid state-owned background, with major shareholders under the control of Shanghai's State-owned Assets Supervision and Administration Commission. The company partners with other stakeholders in the Yangtze River Delta region to drive satellite internet development.
[para. 14] The commercial space industry is rapidly evolving, with large-scale network deployment anticipated by 2025 or 2026. Chinese companies like Yuanxin Satellite and China SatNet are in an "expansion" phase. As the industry eyes rocket reusability as key to cost reduction and efficiency, companies look to follow SpaceX's lead.
[para. 23] The concept of space tourism emerged in China in 2024, with ticket sales initiated by several Chinese companies. While space tourism already exists globally with companies like Virgin Galactic and Blue Origin, the Chinese market plans to offer suborbital voyages beginning 2027, albeit with safety concerns remaining paramount.
[para. 38] Changguang Satellite exemplifies a situation where a commercial satellite company faces challenges in its path to going public. Despite having a significant market share in China's satellite industry, issues like being put on the U.S. SDN list and shareholder controversies contributed to the withdrawal of its IPO application.
[para. 50] Li Guoping of the China National Space Administration, in 2024, expressed a need to support commercial space ventures by optimizing entry criteria, enhancing permit efficiency, and encouraging operations abroad. His proposals highlighted relaxed commercial remote sensing restrictions and the importance of ensuring safe and sustainable space development.
In summary, China's commercial space industry is actively expanding, aiming to rival global leaders such as SpaceX. By leveraging investments and state-based backing, the sector is moving towards substantial developments in satellite internet, rocket reusability, and space tourism, albeit with caution towards safety and regulatory compliance.
- Shanghai Yuanxin Satellite Technology Co., Ltd.
- Shanghai Yuanxin Satellite Technology Co., Ltd., backed by Shanghai's state-owned assets, is the force behind the "Qianfan Constellation," China's second large-scale satellite internet constellation after the "GW Constellation." In February 2024, Yuanxin raised 6.7 billion yuan in Series A funding. The company plans a constellation of 15,000 low-Earth orbit satellites and aims to launch 648 satellites by 2025, marking significant acceleration in China's commercial aerospace sector.
- China Satellite Network Group Co., Ltd.
- China Satellite Network Group Co., Ltd., also known as "China SatNet," is a state-owned enterprise established in April 2021. It is China's largest satellite internet company, headquartered in Xiong'an New Area. China SatNet has applied to launch two low Earth orbit satellite constellations, totaling 12,992 satellites, known as the GW or Guowang constellation. It plays a key role in China's satellite internet initiatives.
- Tianbing Aerospace Technology Co., Ltd.
- Tianbing Aerospace Technology Co., Ltd., founded in 2019, is a private Chinese company focusing on liquid-fueled rockets and engines. In 2024, its Tianlong-3 large liquid-fueled rocket experienced an incident during a test, causing the rocket to unintentionally lift off and disintegrate in mid-air. This incident raised concerns about safety and regulation within the private space sector in China, leading to increased scrutiny.
- Changguang Satellite Technology Co., Ltd.
- Changguang Satellite Technology Co., Ltd. is China's first commercial remote sensing satellite company, established on December 1, 2014. It operates the world's largest sub-meter commercial remote sensing satellite constellation "Jilin-1," with 117 satellites in orbit, accounting for 47% of China's commercial satellites. The company sought a Sci-Tech innovation board listing at the Shanghai Stock Exchange but withdrew in December 2024 due to geopolitical risks and stock freeze issues.
- Jiangsu Deep Blue Aerospace Co., Ltd.
- Jiangsu Deep Blue Aerospace Co., Ltd., known as Deep Blue Aerospace, is a Chinese commercial aerospace company focusing on developing reusable rockets. In 2024, they conducted a high-altitude vertical recovery flight test with their "Nebula-1" rocket, showing confidence in successful recovery, which could significantly reduce launch costs. They offer space travel tickets and plan to use their "Nebula-1" for suborbital flights by 2027, aiming for cost-effective and reliable launch solutions.
- LandSpace Technology Corporation
- The article mentions LandSpace Technology Corporation (referred to as "蓝箭航天" or "Blue Arrow Space") as a commercial space launch company in China. It has been developing the Zhuque-3 (朱雀三号) rocket, which completed vertical take-off and landing (VTVL) tests in 2024, achieving significant progress, including a 10-kilometer level VTVL test. The company’s goal is to establish reusable rocket technology to reduce launch costs and increase launch frequency.
- Jiuzhou Yuanjian (Beijing) Space Technology Co., Ltd.
- Jiuzhou Yuanjian (Beijing) Space Technology Co., Ltd. contributed its Longyun liquid oxygen methane engines for the Longxing-2 rocket's vertical takeoff and landing test, conducted by the Shanghai Academy of Spaceflight Technology in June 2024. The test was China's first 10-kilometer-class vertical takeoff and landing flight test for a rocket, marking a significant step towards developing reusable launch vehicles.
- GalaxySpace (Beijing) Technology Co., Ltd.
- GalaxySpace (Beijing) Technology Co., Ltd., is involved in satellite internet applications and international business development. In June 2024, the company partnered with Thailand's Mahachulalongkornrajavidyalaya University for a satellite internet demo in Thailand, utilizing its low-orbit broadband communication test constellation, "Little Spiderweb." Initially founded with a vision for global markets, it has already garnered cooperation intentions in over ten countries, focusing on regions like ASEAN, the Middle East, and Africa.
- SpaceX
- In 2024, SpaceX remained the most notable global commercial space enterprise. It achieved 134 orbital launches and deployed 1,962 Starlink satellites, reaching a valuation of $350 billion. SpaceX's successful model shows the industry needs a closed-loop chain; it provides affordable rocket capacity with consistent launch demand, establishing a robust triangle of rockets, satellites, and applications in the global satellite internet market.
- Virgin Galactic
- Virgin Galactic is a pioneer in commercial space tourism, led by Virgin Group chairman Richard Branson. In July 2021, Branson flew to an altitude of 85 kilometers in Virgin's spacecraft, marking a milestone for the company. This suborbital flight allowed participants to experience brief periods of weightlessness. Virgin Galactic operates within the realm of space travel, offering this service commercially as part of a growing space tourism industry.
- Blue Origin
- Blue Origin, founded by Jeff Bezos, is known for its suborbital space tourism service. In July 2021, Bezos himself participated in a flight with their New Shepard rocket, reaching over 100 kilometers above Earth. This company focuses on making space travel more accessible. However, challenges remain, such as reducing costs and enhancing reliability before space tourism becomes a mainstream commercial option.
- CAS Space Technology Co., Ltd.
- CAS Space Technology Co., Ltd. (中科宇航) was founded in December 2018 as a high-tech company incubated by the Chinese Academy of Sciences' Institute of Mechanics. The company is developing a suborbital spaceflight vehicle capable of reaching altitudes of 100-120 km with plans for its maiden flight in 2027 and commercial space tourism in 2028. Their proposed trips will cross the Kármán line, offering passengers a brief period of weightlessness.
- Beijing Traveler Manned Space Technology Co., Ltd.
- Beijing Traveler Manned Space Technology Co., Ltd., founded two years ago, offers $300,000 space tourism tickets. In November 2023, it sold nearly ten pre-sale tickets, with notable clients like Guangzhou's Grandview Mall CEO Xie Meng. The company plans a three-phase strategy: developing its CYZ1 spacecraft and launching Chinese space tourism by 2028, creating a commercial manned spacecraft for space hotel operations, and eventually developing a reusable commercial spacecraft for moon landing tourism.
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