China eyeing becoming key player in global commercial satellite market

Beijing, Oct 21(ANI): China is set to become a key player in the commercial satellite market after a company revealed that it is targeting a major share in the industry.

China Great Wall Industry Corp President Yin Liming said that his company aims to take a 10 percent share of the world's commercial satellite market, and 15 percent of the commercial launch business by 2015.

"The corporation plans to invest hundreds of millions of yuan in the next few years for a batch of communications satellites and launch vehicles to guarantee service," the China Daily quoted Liming, as saying.

"This new business model will help sharpen our competitive edge in the global launch market. We aim to become a major player," he added.

It is the first time the corporation, the only one in China authorized to conduct commercial launches for international customers, has unveiled a specific target.

China is scheduled to conduct three commercial launches next year, including a communications satellite produced by France-based Thales Alenia Space for Eutelsat Communications.

The other two launches would be the PakSat-1R for Pakistan, and the NigComSat-1R for Nigeria. (ANI)