According to the news, Blue Arrow Aerospace has signed official launch service contracts with China Star Network and Yuanxin Satellite, and will provide bulk launch services in the future. The commercial prospects are very promising.
"GW Constellation" and "Qianfan Constellation" are two large-scale satellite Internet projects planned by China. Among them, GW Constellation is a broadband Internet satellite constellation operated by China Satellite Network. It is planned to launch a total of about 12992 satellites. It is planned to complete about 10% of the satellite deployment within five years and complete the launch of all satellites by 2035.
Up to now, 17 network launches have been completed, with 136 satellites in orbit.
It is reported that the Qianfan constellation is operated by Yuanxin Satellite and plans to launch a total of about 15000 satellites. So far, 6 network launches have been completed, with 108 satellites in orbit.
On January 8th, the General Office of the Guangzhou Municipal People's Government released the "Guangzhou Accelerates the Construction of an Advanced Manufacturing Strong City Plan (2024-2035)", proposing to create a new pole of China's commercial aerospace industry with global influence by 2035. Focusing on tackling reusable rocket technology, providing a solid foundation for the development of medium and large liquid rockets, it will be open and shared with research institutes, enterprises, and universities across the country in the future.
China CITIC Securities pointed out that the current commercial aerospace industry is expected to enter a new era with the support of national policies and breakthroughs in industrial technology. The main links involved in informationization in the commercial aerospace industry include remote sensing and its applications; Satellite measurement and operation control system; CAE simulation/satellite testing; Interstellar transmission processing module, communication module, data processing platform, etc; The expansion of new scenarios focuses on space computing power. In addition, we believe that the current development of commercial aerospace is a resonance cycle between state-owned enterprises and private enterprises.
Ren Hongdao, an analyst at CITIC Securities, stated that China's large capacity recyclable rockets have entered a concentrated "breakthrough period", and the full chain policy support system has also taken shape simultaneously. Catalytic factors such as IPO completion, rocket intensive maiden flight, and constellation network acceleration will follow in 2026. From the perspective of valuation logic, the deviation between valuation and revenue level in the early stage of industry development is reasonable, and the forward-looking pricing mechanism of the capital market is continuously promoting the concentration of resources towards this strategic emerging industry. Looking ahead to the future, commercial aerospace will gradually shift from concept hype to performance realization, focusing on the three core themes of rocket manufacturing, satellite networking, and downstream applications. The entire industry chain is expected to usher in a golden window period of high-quality development.
Zheshang Securities released a research report stating that the space data center industry has moved from technology validation to the commercial constellation deployment stage represented by Starcloud-1 and China's "Three Body Computing Constellation". According to calculations, after the completion of the first phase of the computing power constellation in 2027, it can directly drive the output value of the industrial chain to exceed billions of yuan, and in the long run, the scale is expected to exceed trillions of yuan. In the next five years, major constellation plans will gradually carry out satellite launches. The bank suggests focusing on four major sub sectors: radiation cooling systems, space photovoltaic energy systems, radiation resistant chip/server packaging, and inter satellite laser communication.
