Construction on China’s first commercial space launch site started in Wenchang, Hainan Province on July 6, another step in the development of commercial carrier rockets for civil use.
Built by Hainan International Space Launch Limited founded by the provincial government of Hainan, China Aerospace Science and Technology Corporation, China Aerospace Science and Industry Corporation and China Satellite Network Group, the launch site is a major part of the construction of the Free Trade Zone in Hainan and also a part of Hainan’s aerospace strategy, said Hainan Governor Feng Fei. The launch site will be a leading international aerospace cluster that supports an ecosystem consisting of rocket chains, satellite chains and data chains.
Emerging since 2015, the market size of China’s commercial aerospace industry, according to the China Astronautics Association for Quality, rose to 1.02 trillion yuan (US$151.4b) in 2020 and is projected to rise to 2.3 trillion yuan (US$346.9b) by 2024.
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