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Private satellite companies see rising revenue

(People's Daily Online)    16:29, October 31, 2018

Spacety’s staff pose with their satellites (Photo/Chinanews.com)

Chinese private satellite companies are expanding their market share by tapping potential in multiple areas, The Beijing News reported on Oct. 30.

Spacety, a private satellite company, which positions itself as a satellite mini-lab that helps people conquer space, said it plans to launch more than 10 small satellites into space this year.

The company successfully sent its four self-developed satellites into space using a Long March 2C rocket on Oct. 29, its second mission this year.

Spacety’s revenue is expected to reach 60 million yuan this year, growing three-fold since last year, said its CEO, Yang Feng, adding that his company will expand its business beyond remote sensing and communication as the next step.

Commsat, a Beijing-based private satellite company, will launch its Ladybeetle satellites into space by the end of this year, with the aim of authenticating the Internet of Things system.

The private companies said they could cultivate their advantages in multiple areas such as remote sensing, communication, and scientific research. They’ve also prepared differentiated marketing strategies to avoid competition with state-owned satellite companies.

Microsatellites have become a new business area for private companies, driven by military-civilian integration, and the fact that nowadays it takes much less money to produce and launch a satellite.

Yang said the company is cooperating with state-owned satellite companies to finish their orders, mainly in the manufacturing of scientific research satellites.

The satellite companies are teaming up with online marketplaces on the latter’s consumer services. For instance, Alibaba and Suning will use satellites to communicate with their customers on the eve of the Double 11 shopping spree. 

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Bianji, Hongyu)

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