August 12, 2022
China is now the world's second-largest commercial satellite owner after
the U.S.
China started its commercial aerospace sector in 2015 when the
country launched a 10-year plan to engage private players in the once
national-operation-only field.
Boosted by policy support, China's aerospace market has grown
rapidly in the past seven years, with an annual growth rate
of more than 20%, and it is expected to top 1.5 trillion yuan (about $222
billion) in 2022.
As of this June, China has more than 120 commercial satellites in orbit, with
an ever-expanding field of applications, such as meteorological
observation, land surveying and mapping, and ocean observation.
(Sources: China Report)
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