• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Editor's Pick

China’s fast-expanding commercial space sector logs rare rocket failure

by December 27, 2024
written by December 27, 2024

BEIJING (Reuters) – CAS Space, one of China’s leading commercial rocket firms, said its Lijian-1 rocket unexpectedly failed on Friday, marking the first setback for the company’s main launch vehicle since its inaugural flight in 2022.

Until now, CAS Space, a Guangzhou-based commercial spin-off of the Chinese Academy of Sciences, had successfully launched a total of 57 satellites over five Lijian-1 flights.

Friday’s launch failed soon after blast-off, prompting the solid-propellant rocket to initiate self-destruction, CAS Space said in a statement, without stating the number of satellites onboard.

CAS Space said previously it had planned to deliver 11 satellites.

In November, a Lijian-1 launch successfully delivered 15 satellites to their assigned orbits, including a remote-sensing satellite for Oman, the company’s first international client.

At the time, Shi Xiaoning, the rocket’s chief designer, said the cost performance and reliability of Lijian-1 had been well-recognised by the international market.

CAS Space has plans to launch its next launch vehicle, Lijian-2, in 2025.

The rare failure comes as China’s commercial space sector is expanding fast and competition for local and international clients is growing.

Jielong-3, a small-lift rocket developed by China Rocket Co, is a close rival of Lijian-1 in terms of payload capacity. Its previous launch, its fourth, was in September.

Chinese President Xi Jinping has called for the expansion of strategic industries including the commercial space sector, which is deemed key to building constellations of satellites for communications, remote sensing and navigation.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Australia stocks higher at close of trade; S&P/ASX 200 up 0.50%
next post
India’s widening bank liquidity deficit warrants more measures, traders say

You may also like

China central bank conducts 1.7 trln yuan of...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

ECB president fears loss of central bank independence

January 27, 2025

European tech shares tumble as China’s AI push...

January 27, 2025

Futures slip as investors eye China’s latest AI...

January 27, 2025

Markets may be repeating the mistake of 2019,...

January 27, 2025

How billionaire Caltagirone could influence Italy’s banking M&A...

January 27, 2025

How Italy’s MPS went from near collapse to...

January 27, 2025

Analysis-To weather Trump, emerging market investors look to...

January 27, 2025

Chinese AI startup DeepSeek overtakes ChatGPT on Apple...

January 27, 2025
Become a VIP member by signing up for our newsletter. Enjoy exclusive content, early access to sales, and special offers just for you! As a VIP, you'll receive personalized updates, loyalty rewards, and invitations to private events. Elevate your experience and join our exclusive community today!








    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • UPS is ‘disposing of’ U.S.-bound packages over customs paperwork problems

      October 13, 2025
    • China outlines more controls on exports of rare earths and technology

      October 10, 2025
    • Paramount acquires Bari Weiss’ The Free Press, naming her the top editor of CBS News

      October 7, 2025
    • YouTube to pay $24 million to settle Trump lawsuit

      October 1, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (652)
    • Stock (6,426)

    Latest News

    • UPS is ‘disposing of’ U.S.-bound packages over customs paperwork problems
    • China outlines more controls on exports of rare earths and technology

    Popular News

    • Domino’s Pizza finally launches stuffed crust to keep customers away from rivals
    • Super Micro stock jumps after Nasdaq grants filing extension

    About The Significant deals

    • About us
    • Contacts
    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy