Several Applications are Top Priorities in Aerospace Projects Launching this Year

Several Applications are Top Priorities in Aerospace Projects Launching this YearSatellite applications, space broadband internet and carrier rockets are among the top priorities of key aerospace projects that are expected to be launched this year. Based on a statement of an industry expert, these three fields are the topmost trends and the core of the future development in the aerospace industry and are expected to reach 800 billion yuan in market size by the end of the 13th Five year plan for 2016-2020. Those familiar with the matter said that at the end of the 13th five year plan, China will build a new generation of carrier rockets spectrum along with a civil space infrastructure that meets the needs of businesses in different fields. China will also complete the three step plan of manned space flight and the proposed lunar exploration and to form an extensive satellite and application industry chain.

The director of the State Administration of Science, Technology and Industry for National Defense Xu Dazhe stated that implementing these key projects for these aerospace developments is considered as breakthroughs and will help China realize that the power of research in space exploration and science will drive the application of space technology. Overall output value of the aerospace industry is expected to hit 500 billion yuan as the satellite application itself is said to reach 50 billion yuan by 2020.

China Galaxy Securities also reported that the aerospace industry is in high development that is potential to both domestic and foreign markets. Compared to western countries, china is still a long way from even capturing a certain market share in the international satellite launch market. Since the aerospace industry is starting to become an important strategic industry in China for its 13th five year plan and its development pushes ahead the transformation and upgrading of the manufacturing industry.

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