China eyes 15% market share in commercial space launch

BEIJING - China looks to increase its global market share in commercial space launch to 15 percent by 2020 from three percent at present, a top rocket expert said Saturday.

China Academy of Launch Vehicle Technology will explore new business models of the in-orbit delivery and space-and-ground integration, the academy's deputy head Liang Xiaohong said at an exclusive interview with Xinhua.

The academy is working to establish strategic alliances with other major launch service providers in the world, and set up strategic cooperation relations with major satellite manufacturers, he said.

The academy is also striving to set up a management system in line with the market and international standard, he added.

The cost-efficient advantage of Chinese rockets is not as prominent as before due to the rising of Japanese and Indian aerospace industry and private aerospace enterprises from the United States and Europe, he said.

The academy will adopt a globalization strategy and carry out world-class researches on advanced space technologies and engineering to better tap the international market, he said.

China Academy of Launch Vehicle Technology is the premier space launch vehicle manufacturer in China and one of the major launch service providers in the world.