Space & Satellites
LandSpace Plans IPO on Shanghai STAR Market Boosting China Space Tech
LandSpace files for IPO on Shanghai STAR Market, highlighting advances in methalox rockets and reusable technology in China’s private space sector.
LandSpace Technology, a private Chinese aerospace company, has filed to list on the Shanghai Stock Exchange’s STAR Market, signaling a major step forward for China’s commercial space sector. The IPO, announced in July 2025, comes as the company continues to make technological strides, particularly with its methane-fueled, reusable rockets. This development is not just a financial milestone for LandSpace, but also a significant indicator of China’s broader ambitions in space innovation and commercialization.
Founded in 2015, LandSpace has positioned itself as a key player in the rapidly growing private space industry in China. The company made global headlines in July 2023 when it became the first to successfully launch a methane-liquid oxygen (methalox) rocket into orbit, a significant technological achievement that even SpaceX had not yet accomplished at the time. The IPO filing reflects both internal progress and external confidence, bolstered by state-backed funds and prominent venture capital investors.
China’s STAR Market, often compared to NASDAQ, was designed to support innovative and high-tech enterprises. With recent reforms allowing unprofitable but high-growth companies to list, LandSpace’s IPO aligns with a national strategy to foster cutting-edge technologies in sectors like aerospace, AI, and semiconductors. This article explores LandSpace’s trajectory, its financial and technological milestones, and the broader implications for China’s space ambitions.
LandSpace’s most notable achievement to date is the successful orbital launch of its Zhuque-2 rocket in July 2023. This marked the first time a methane-liquid oxygen rocket reached orbit, a feat that placed the company ahead of competitors like SpaceX and Blue Origin in this specific propulsion technology. Methalox engines are considered cleaner and more efficient than traditional fuels, making them ideal for reusable launch systems.
The Zhuque-2’s success was not just a technical win but also a symbolic one. It demonstrated the viability of China’s private space sector and showcased the country’s capacity to develop cutting-edge technologies independently of Western aerospace giants. The use of methalox also sets the stage for more sustainable and cost-effective space missions, aligning with global trends toward greener space exploration.
LandSpace’s pivot from solid-propellant to liquid-propellant rockets after the failed Zhuque-1 launch in 2018 shows a willingness to adapt and innovate. The company’s development of the Tianque-12 engine, which powers its newest rockets, underscores its commitment to advancing Propulsion technology. These engines are designed to support partial reusability, a feature that could significantly reduce launch costs over time.
“LandSpace’s Zhuque-2 rocket became the world’s first methane-liquid oxygen rocket to reach orbit, placing it ahead of U.S. rivals in adopting cleaner, reusable propulsion systems.”
In June 2025, LandSpace completed a 45-second static fire test of its Zhuque-3 rocket, a stainless steel vehicle powered by nine Tianque-12A engines. This test generated 7,542 kilonewtons of thrust, positioning the rocket as a formidable competitor to SpaceX’s Falcon 9. The Zhuque-3 is designed for partial reusability and is expected to carry up to 18,300 kilograms to low Earth orbit in its reusable configuration.
A successful orbital launch of the Zhuque-3, planned for late 2025, would make LandSpace the second company globally after SpaceX to launch a reusable orbital-class rocket. This would mark a significant leap in China’s ability to offer competitive launch services, both domestically and internationally. The Zhuque-3 is also expected to support the deployment of the Haolong cargo spacecraft, enhancing China’s logistics capabilities in space. Reusable rockets are a game-changer in the aerospace industry. They dramatically reduce the cost per launch and increase the frequency of missions. LandSpace’s success in this area could not only boost its commercial prospects but also contribute to China’s broader strategy of building a sustainable space economy.
LandSpace filed its IPO application with the Shanghai STAR Market in July 2025. While the exact fundraising target has not been disclosed, the company has a strong track record of attracting significant investment. In December 2024, LandSpace raised 900 million yuan (approximately USD 125 million), and in 2020, it secured 1.2 billion yuan (around USD 171 million). These rounds were backed by prominent investors including HongShan (formerly Sequoia Capital China), Country Garden, and several state-affiliated funds.
The IPO comes at a time when the STAR Market has introduced a new “growth tier,” allowing unprofitable but innovative companies to list. This policy shift is particularly beneficial for companies like LandSpace, which are heavily invested in R&D and long-term technological development. The STAR Market has raised over USD 153 billion since its inception in 2019, supporting more than 50 unprofitable tech firms to date.
LandSpace’s alignment with national strategic goals, such as the development of dual-use technologies for both commercial and defense applications, adds another layer of investor appeal. The company has received support from the National Manufacturing Transformation and Upgrading Fund and maintains partnerships with state-owned enterprises like the Chengdu Aircraft Design Institute.
LandSpace’s IPO is part of a larger narrative: China’s ambition to become a dominant player in the global space economy. The government has significantly increased funding for space-related initiatives, with an estimated budget exceeding USD 14 billion in 2023. Private companies like LandSpace are now integral to national goals, including the deployment of large-scale satellite constellations and the development of reusable launch systems.
China aims to launch up to 10,000 satellites by 2030, creating its own version of Starlink. LandSpace’s reusable rockets could play a critical role in achieving this objective by offering cost-effective and frequent launch capabilities. The company’s technological advancements also support China’s goals in scientific research, national security, and international collaboration.
The STAR Market’s reforms are designed to keep innovation within China’s borders. By offering a domestic platform that rivals NASDAQ, the Chinese government hopes to retain high-tech talent and capital. LandSpace’s listing could serve as a blueprint for other aerospace startups seeking to scale without relying on foreign markets.
LandSpace’s planned IPO on the STAR Market represents more than just a financial milestone. It is a testament to the maturation of China’s private space sector and the country’s broader ambitions in space exploration and commercialization. By pioneering methalox propulsion and reusable rocket technology, LandSpace is positioning itself, and by extension, China, as a formidable force in the global aerospace industry. As the company prepares for its next major launch with the Zhuque-3, all eyes will be on whether it can deliver on its promise of reusability and cost-efficiency. If successful, LandSpace could redefine what is possible for private space firms in China and beyond, setting a new standard for innovation, sustainability, and strategic alignment with national goals.
What is LandSpace? What is the STAR Market? Why is the Zhuque-3 rocket significant? How much funding has LandSpace raised? What makes methalox rockets important?
China’s SpaceX Rival LandSpace Eyes IPO in Shanghai
LandSpace’s Technological Milestones
The Rise of Methalox Propulsion
Zhuque-3 and the Reusable Rocket Race
Financial and Strategic Positioning
IPO Details and Investor Confidence
China’s Broader Space Strategy
Conclusion
FAQ
LandSpace is a Chinese private aerospace company founded in 2015, known for developing methane-fueled rockets and pioneering reusable launch technology in China.
The STAR Market is a tech-focused stock exchange under the Shanghai Stock Exchange, designed to support innovative and high-growth companies, including those that are not yet profitable.
The Zhuque-3 is designed to be partially reusable and could make LandSpace the second company globally to launch a reusable orbital-class rocket, following SpaceX.
As of 2025, LandSpace has raised approximately USD 485 million across multiple funding rounds from both private and state-backed investors.
Methane-liquid oxygen propulsion is cleaner and more efficient than traditional fuels, making it ideal for reusable rockets and long-term space missions.
Sources
Photo Credit: Reuters
Space & Satellites
Sodern Opens First US Facility in Colorado for Star Tracker Production
Sodern launches its first US industrial subsidiary in Colorado, producing Auriga™ star trackers and expanding in the US aerospace market.
This article is based on an official press release from Sodern.
Sodern, a prominent French manufacturer of space equipment and a subsidiary of ArianeGroup, has officially inaugurated its first United States industrial subsidiary, Sodern America. Located in Englewood, Colorado, the new facility marks a significant strategic expansion for the European aerospace giant, representing ArianeGroup’s first industrial installation on American soil.
According to the company’s announcement, the opening of Sodern America is designed to bring the manufacturer closer to its U.S. client base and navigate domestic regulatory requirements. The move positions Sodern to compete directly with established American firms in the defense and commercial space sectors by establishing a local supply chain and production capability.
The new subsidiary is situated in the Denver metropolitan area, a region widely recognized as a major hub for the U.S. aerospace industry. The facility spans approximately 14,000 square feet (1,300 square meters) and is equipped to handle manufacturing, testing, and commercial support.
In its official statement, Sodern outlined the specific operational capabilities of the Englewood site:
By establishing this physical presence, Sodern aims to address the “dynamic and demanding” nature of the U.S. market, ensuring that critical components are available with shorter supply-chains than those requiring import from Europe.
To lead the new subsidiary, Sodern has appointed Tiphaine Louradour as the CEO of Sodern America. Louradour brings over 25 years of experience in the space industry, having held significant leadership roles at major U.S. aerospace organizations.
According to biographical details released in conjunction with the announcement, Louradour’s background includes serving as CEO of Spaceflight Inc., President of International Launch Services (ILS), and President of Global Commercial Sales at United Launch Alliance (ULA). Her appointment signals Sodern’s intent to leverage deep ties within the U.S. space industrial base to secure new contracts.
A primary driver for this expansion, as noted in the company’s strategic rationale, is compliance with U.S. regulatory frameworks. Foreign entities often face barriers when bidding for U.S. government defense and civil space contracts due to strict domestic content requirements, often referred to as “Buy American” mandates. By manufacturing the Auriga™ star tracker and conducting testing in Colorado, Sodern America intends to qualify for sensitive programs that are typically restricted to U.S. entities. This local status allows the company to bypass previous regulatory hurdles and compete on equal footing with domestic manufacturers.
The entry of Sodern America into the Colorado aerospace cluster places it in direct proximity to some of its fiercest competitors. The Denver area is home to Blue Canyon Technologies (a subsidiary of RTX), which is a market leader in small satellite components and star trackers. Additionally, Ball Aerospace (now part of BAE Systems Space & Mission Systems) and Honeywell Aerospace maintain significant operations in the region.
Sodern is already a supplier for major U.S. stakeholders, including NASA, providing instruments for the InSight Mars mission and the Europa Clipper, and the OneWeb constellation. However, establishing a manufacturing foothold suggests a shift from being an exporter to becoming an embedded part of the U.S. supply chain. This move is likely to intensify competition in the optical sensors market, particularly as satellite constellations continue to scale.
What is Sodern America? Where is the new facility located? What will be manufactured at the new site? Who is the CEO of Sodern America? Why did Sodern open a U.S. factory?
Facility Capabilities and Strategic Location
Leadership and Market Objectives
Navigating “Buy American” Regulations
AirPro News Analysis: The Competitive Landscape
Frequently Asked Questions
Sodern America is the new U.S. subsidiary of the French space equipment manufacturer Sodern. It is the company’s first industrial facility in the United States.
The facility is located in Englewood, Colorado, within the Denver metropolitan area.
The site will feature a production line for Auriga™ star trackers and testing facilities for Hydra™ star trackers.
Tiphaine Louradour, a veteran aerospace executive with previous leadership roles at Spaceflight Inc. and ULA, has been appointed as CEO.
The expansion aims to bypass “Buy American” regulatory hurdles, shorten supply chains for U.S. clients, and allow the company to bid on U.S. government defense contracts.Sources
Photo Credit: Sodern
Space & Satellites
Isar Aerospace Opens Acceptance Test Facility at Esrange Space Center
Isar Aerospace launches a new test site at Esrange, Sweden, to support industrial-scale production of Spectrum rocket ahead of March 2026 flight.
This article is based on an official press release from Isar Aerospace.
Isar Aerospace has officially inaugurated a new acceptance test facility at the Esrange Space Center in Kiruna, Sweden. Announced on February 4, 2026, the opening marks a significant transition for the Munich-based launch provider as it shifts focus from prototype development to the industrial-scale production of its Spectrum launch vehicle.
The new site is purpose-built to verify the flight readiness of manufactured hardware, a critical step in ensuring high-cadence Launch operations. According to the company, the facility is designed to test over 30 Aquila engines per month, alongside fully integrated rocket stages. This infrastructure expansion comes just weeks before Isar Aerospace attempts its second Test-Flights, mission “Onward and Upward,” scheduled to First-Flight from Andøya Spaceport in Norway in March 2026.
Unlike development testing, which focuses on validating design concepts, acceptance testing is the final quality control step before hardware is shipped to the launch pad. Isar Aerospace stated in their press release that the new facility is specifically engineered to remove production bottlenecks. By securing dedicated infrastructure for acceptance testing, the company aims to ensure that every engine and stage coming off the assembly line is immediately qualified for flight.
The facility operates alongside Isar’s existing vertical test stand (VTS-2) at Esrange, which has been utilized for development testing since 2019. The addition of the new site allows for parallel operations: R&D can continue on the vertical stand while the new facility handles the volume required for serial production.
“Scaling reliable access to space requires not only advanced launch vehicle design but also the right infrastructure to support rapid development and production. With our second test facility at Esrange, we are unlocking new capabilities and accelerating our progress.”
, Daniel Metzler, CEO & Co-Founder, Isar Aerospace
The new infrastructure significantly increases the company’s throughput. Isar Aerospace reports that the site is equipped to handle the acceptance testing of more than 30 Aquila engines monthly. Furthermore, the site supports integrated stage testing, allowing engineers to verify the entire rocket stage as a cohesive unit before it leaves Sweden.
The opening of this facility highlights the intensifying race among European launch Startups to provide sovereign access to space. Isar Aerospace is competing with peers such as Rocket Factory Augsburg (RFA) and Orbex to fill the gap in Europe’s launch market. By vertically integrating its testing capabilities, Isar Aerospace reduces reliance on shared facilities, potentially giving it an advantage in scheduling and launch cadence. Swedish Space Corporation (SSC), which operates Esrange, emphasized the importance of this Partnerships for the broader European ecosystem.
“This new facility strengthens Europe’s path toward scalable and reliable access to space… Together, we are building the infrastructure that will enable a new generation of launch services.”
, Mats Tyni, Director of Business Development, SSC
The distinction between “development” and “acceptance” testing is often overlooked, yet it is the primary hurdle for launch companies moving from a single successful flight to a commercial service. In our view, Isar Aerospace’s Investments in a high-volume acceptance facility signals confidence in their hardware design. It suggests the company believes the Aquila engine design is mature enough to freeze for mass production. If the upcoming March 2026 flight is successful, this infrastructure will be the key enabler that allows them to fulfill their backlog without the testing bottlenecks that have historically plagued the industry.
The facility inauguration serves as a prelude to Isar Aerospace’s next major milestone. The company confirmed that its second test flight, dubbed “Onward and Upward,” is targeted for a launch window in March 2026. This mission will utilize the Spectrum vehicle, a two-stage rocket designed to carry up to 1,000 kg to Low Earth Orbit (LEO).
The Spectrum vehicle relies on the Aquila engines tested at Esrange, which utilize Liquid Oxygen (LOX) and Propane. Following a flight termination during the first test launch in March 2025, the company has conducted extensive hot-fire tests to validate system corrections. The new acceptance facility will likely play a central role in qualifying engines for vehicles 3 through 7, which are currently planned for concurrent production.
Industrializing Launch Capabilities
Capacity and Specs
Strategic Context: The Race for European Sovereignty
AirPro News Analysis
Upcoming Mission: “Onward and Upward”
Sources
Photo Credit: Isar Aerospace
Space & Satellites
SpaceX Crew-12 Arrives in Florida for February ISS Launch
Crew-12 astronauts from NASA, ESA, and Roscosmos arrive at Kennedy Space Center ahead of their February 11 launch to the ISS aboard SpaceX Crew Dragon.
This article is based on an official press release from NASA and additional mission data from ESA and Roscosmos.
The four-member crew of the SpaceX Crew-12 mission arrived at the Kennedy Space Center (KSC) in Florida on Friday, February 6, 2026, marking the final operational milestone before their scheduled Launch to the International Space Station (ISS). Flying in from the Johnson Space Center in Houston, the international team of astronauts landed at the Launch and Landing Facility to commence final preparations and mandatory quarantine protocols.
According to NASA, the mission is targeted to lift off on Wednesday, February 11, 2026, at 6:01 a.m. EST. The crew will ride aboard the SpaceX Crew Dragon spacecraft named Freedom, propelled by a Falcon 9 rocket from Space Launch Complex 40 (SLC-40) at Cape Canaveral Space Force Station. This flight represents a continuation of the Commercial Crew Program’s efforts to maintain a continuous human presence in low-Earth orbit.
The arrival of Crew-12 is operationally critical for the ISS, which has recently functioned with a reduced staff due to schedule shifts and medical evaluations. The successful docking of Crew-12, targeted for approximately 10:30 a.m. EST on February 12, will restore the orbiting laboratory to its full complement of seven astronauts, stabilizing maintenance rosters and scientific output for Expeditions 74 and 75.
The Crew-12 mission brings together representatives from three major Space-Agencies: NASA, the European Space Agency (ESA), and Roscosmos. The mission duration is expected to last approximately nine months, during which the crew will conduct hundreds of scientific experiments and technology demonstrations.
In an official statement regarding the mission’s scope, NASA noted:
“Crew-12 will conduct scientific investigations and technology demonstrations to help prepare humans for future exploration missions to the Moon and Mars, as well as benefit people on Earth.”
Following the launch on February 11, the crew will execute a 28-hour rendezvous profile before docking with the ISS. Once aboard, they will overlap briefly with the departing crew before settling into a long-duration stay focused on deep space biology, material science, and Earth observation.
The manifest for Crew-12 features a blend of veteran leadership and rookie talent, including two American astronauts, one French astronaut, and one Russian cosmonaut. Leading the mission is veteran astronaut Jessica Meir. Meir previously served on Expedition 61/62 in 2019 and 2020, where she gained global recognition for participating in the first all-female spacewalk alongside Christina Koch. A dual American-Swedish citizen, Meir holds a Doctorate in Marine Biology from the Scripps Institution of Oceanography. Her scientific background includes extensive research on animal physiology in extreme environments, such as emperor penguins in Antarctica. As Mission Commander, she is responsible for all phases of flight, from launch to re-entry.
Seated alongside Meir is mission pilot Jack Hathaway, making his first trip to space. Selected as a NASA astronaut candidate in 2021, Hathaway brings extensive aviation experience as a Commander in the U.S. Navy. He is a distinguished graduate of the Empire Test Pilots’ School and has logged over 2,500 flight hours in more than 30 types of aircraft. His role on Crew-12 involves monitoring vehicle systems and performance during the dynamic phases of flight.
Representing the European Space Agency is Mission Specialist Sophie Adenot. A Lieutenant Colonel in the French Air and Space Force and a helicopter test pilot, Adenot was selected as an ESA astronaut in 2022. She becomes the second French woman to fly to space, following Claudie Haigneré’s mission in 1996. Adenot’s individual mission is designated “Epsilon.”
Commenting on the significance of her role, Adenot stated:
“With this Epsilon mission, France and Europe are contributing to a global endeavor. Space exploration connects science, economy, technology, education, and diplomacy.”
Rounding out the crew is Roscosmos cosmonaut Andrey Fedyaev. This flight marks his second journey to the ISS, having previously flown on the SpaceX Crew-6 mission from March to September 2023. Fedyaev’s inclusion in the crew is notable for making him the first Russian cosmonaut to fly twice on a SpaceX Dragon vehicle. He is tasked with monitoring launch and re-entry phases and managing cargo operations aboard the station.
Upon their arrival in Florida, the crew immediately entered the Neil A. Armstrong Operations and Checkout Building to begin the standard pre-flight quarantine. This health stabilization protocol, a legacy of the Apollo era, is designed to ensure that no viral or bacterial illnesses are transported to the closed environment of the ISS.
The composition of Crew-12 underwent a significant adjustment late in the training flow. In December 2025, Roscosmos cosmonaut Oleg Artemyev was removed from the manifest and replaced by Andrey Fedyaev. While Roscosmos officially cited a “transition to other work” as the reason for the swap, industry reports have suggested the change may have been influenced by internal Regulations. Fedyaev’s previous experience on the Crew-6 mission allowed him to step into the role with a compressed training timeline, ensuring the mission schedule remained on track.
The integration of Andrey Fedyaev into Crew-12 highlights the increasing maturity and interoperability of the Commercial Crew Program. In previous eras of spaceflight, a crew change less than three months before launch could have resulted in significant delays. However, the standardization of the SpaceX Crew Dragon platform allows veteran flyers like Fedyaev to retain currency and step into rotation with reduced lead time. Furthermore, the launch of Crew-12 is pivotal for ISS operations. The station has faced a period of flux regarding crew numbers, and the return to a seven-person staff is essential for clearing the backlog of maintenance tasks and maximizing the scientific return of the orbiting laboratory before the transition to commercial space stations begins later in the decade.
Sources:
Crew-12 Astronauts Touch Down in Florida Ahead of February 11 Launch
Mission Profile and Timeline
Meet the Crew-12 Astronauts
Commander Jessica Meir (NASA)
Pilot Jack Hathaway (NASA)
Mission Specialist Sophie Adenot (ESA)
Mission Specialist Andrey Fedyaev (Roscosmos)
Operational Context and Late Adjustments
Late Crew Change
AirPro News Analysis
Photo Credit: NASA
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