musicbingonearme| Commercial aerospace capital has entered the agency one after another. Rocket launch capacity needs to be improved
editor 2024-05-14 07:45:32 Finance 40
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◎ reporter Xu Wei
"Leo satellites open the space of the commercial aerospace market, and the rocket launcher, as a guarantee of transport capacity, is the 'key' to open the sea of stars." Zhang Hengyi, an analyst at Haitong Securities, said in an interview with the Shanghai Securities News that the domestic carrier rocket launch technology is constantly developing, but the rocket carrying capacity is relatively weak, so it is imperative to improve the rocket launch capacity. Liquid rockets have the advantage of launching in large quantities, and the route of liquid oxygen and methane is expected to overtake at the bend.
Space is a huge treasure house of resources, which is of great significance in many aspects. WithMusicbingonearmeThe pace of the construction of satellite Internet in China is accelerating, and the commercial space track ushered in the opportunity for development. In 2024, commercial aerospace was first included in the government work report. The trillion-level market of commercial aerospace, like the vast space, is attracting more and more enterprises and capital to enter the market.
Since the clarion call for the development of commercial aerospace was sounded in 2015, the amount of financing in related fields has increased rapidly. Zhang Hengyi said that from 2011 to 2021, there were 341 financing for China's commercial space track, and the amount of financing was disclosed to be 243.Musicbingonearme10 million yuan. In terms of the types of projects funded, rocket and satellite launch research and development are hot financing projects in 2021.
In Zhang Hengyi's view, the rocket launch industry provides carrier support for downstream application scenarios. The rise of commercial aerospace has given rise to new application directions, such as satellite Internet, space travel, space mining, deep space exploration, space cleaning and so on. A wide range of downstream application scenarios can promote commercial aerospace to build a sound industrial ecology, and further promote the technological progress of the rocket launcher.
China has officially declared its low-orbit satellite constellation codenamed "GW" to the ITU, according to the official website of the International Telecommunication Union (ITU) and its official Wechat account. The constellation plan is inseparable from the rocket launch service with large capacity and low cost, which puts forward new requirements and challenges to the carrying capacity and launch efficiency of the carrier rocket.
The launch technology of domestic carrier rockets has made continuous breakthroughs, but the carrying capacity of rockets is still relatively weak. The launch demand of the domestic rocket industry is strong, but the supply is insufficient, and there is a large gap in rocket capacity, so the improvement of transport capacity is the key. " Zhang Hengyi said.
The main engine of launch vehicle is the core component of launch vehicle. Zhang Hengyi believes that the liquid rocket has a high specific impulse and can be started many times, which is the key to solving the problems of insufficient load and high cost. The higher the specific impulse means that the rocket can carry more load under the condition of a certain propellant, while the adjustable thrust and multiple start-up capacity can adjust the thrust time curve according to the need to achieve flight trajectory repetition. With the development of aerospace technology, liquid rocket engine technology is also making continuous progress. at present, the development trend of liquid rocket engine technology is mainly low cost, high reliability and reusability.
With the rise of reusable launch vehicle, the liquid oxygen methane engine with double low temperature and less carbon deposition has been paid great attention. Zhang Hengyi said that in terms of liquid oxygen methane engine, China carried out relevant key technology research in the 1980s, and obtained basic data such as ignition, combustion, thermal and flow resistance characteristics, which provided a good technical basis for the development of liquid oxygen methane engine. In recent years, with the development of low-cost commercial aerospace, multi-type 10-ton and 80-ton open cycle liquid oxygen methane engines have completed the thermal test one after another. In order to meet the needs of large-scale space development in the future, China has also carried out key technologies of 200-ton high-performance reusable liquid oxygen methane engine.
From the point of view of the source of funds, the total amount of financing in the commercial launch vehicle industry is considerable. According to Zhang Hengyi's statistics, Blue Arrow Aerospace completed 1.2 billion yuan of C + round financing in 2020, and the latest round of investment is the D+ round financing conducted in 2022. The amount of financing has not been disclosed, and investors have potential capital, Jianyin International, and so on. This is the 13th round of financing since the establishment of Blue Arrow Aerospace.
In October 2023, Tianbing Science and Technology completed hundreds of millions of yuan of C + round financing, which will be used for the batch production of Tianlong II medium liquid rocket, as well as the development and maiden flight of Tianlong 3 large liquid carrier rocket and engine, the key test of recyclable and reuse technology, the construction of Tianlong 3 special launch station, the construction of batch production capacity and the improvement of talent team. This round of financing is the 12th round of financing of Tianbing Technology. In the four years since its establishment, Tianbing Science and Technology has received a total of 3 billion yuan in financial support.
Zhang Hengyi said that the rocket launch business is an important area of competition in the world's science and technology and high-end equipment manufacturing, with the characteristics of high capital and technology intensity and high added value of the industry, and the influx of capital can provide sufficient guarantee for the development of rocket products.