Satellite Launch Company Virgin Orbit "Business Discussions with Inosis"

[Asia Economy Reporter Jang Hyowon] Innosys, a KOSDAQ-listed company, announced on the 25th that Monica Jan, Senior Director of Strategy and Customer Experience at Virgin Orbit, a Nasdaq-listed satellite launch company, exchanged opinions on the overall space business with Innosys CEO Choi Doyoung on the 23rd.

Virgin Orbit successfully launched a space launch vehicle by loading it onto an aircraft with its 'LauncherOne' service for the first time last year. LauncherOne is a 21-meter-long space launch vehicle capable of carrying payloads up to 500 kg at an altitude of 230 km above the ground.

The advantage of air launch is that it is not restricted by launch azimuth, and any airport in the world that meets the conditions can be used as a launch site. Virgin Orbit announced at the 'Asia-Pacific Satellite Communications Council (APSCC) Conference' held at The-K Hotel Seoul on October 19 that it plans to provide space launch vehicle services in Korea in 2024.

Virgin Orbit and Innosys exchanged opinions on the suitability of domestic airports and the use of the LauncherOne system for the Korean space launch vehicle business.

According to market research firm Grand View Research, the small space launch vehicle market was approximately $2.12 billion last year and is expected to grow at an average annual rate of 23.3% until 2030. This demand is generated more by the private sector than the government, and domestically, demand for small satellites is expected to concentrate on autonomous driving and urban aviation.

Attention is focused on what role Innosys will play in the small satellite launch vehicle business. A company official stated, “The meeting with Virgin Orbit has been a matter prepared for a long time, and we expect Innosys to play a role in the Korean-type space launch vehicle business.”