Borisov called for developing the space services market instead of “magic kickoffs”

Roscosmos CEO Yuri Borisov believes that to develop the Russian space services market, investments from private companies are needed. According to him, it was with the help of such investments that American businessman Elon Musk’s company SpaceX was able to succeed.

“Close work with private companies can really shift the situation by 2030. According to forecasts, the global constellation by this time will consist of 100 thousand satellites. This is a challenge for us,” said Mr. Borisov, speaking at the “Russia” exhibition and forum (quoted from RIA Novosti).

After these words, the presenter of the conference, the head of the Union of Journalists of Russia (SJR), Vladimir Solovyov, said that private companies need a “magic kick” from the state so that they start investing in the space industry. “Until real market situations are created and the investor sees direct benefits, you can give even a kickback, you can give anything, he still won’t go there – this is the reality of life,” answered Yuri Borisov.

He also noted that in Russia there are eight private companies that are ready to create their own satellites within the framework of a new federal project, among them are Sitronics, Barl, and Bureau 1440. However, according to Mr. Borisov, they are ready to invest in the production of satellites only if they guarantee the purchase of their services.

In April 2023, Yuri Borisov said that by 2030 Russia could drop from fourth to seventh place in terms of the share of space services in the world market if it does not increase the pace of production of multi-satellite constellations. Currently, the leaders in the number of satellites in orbit are the USA, China and the UK. Russia’s share in the global constellation of satellites is 2.5%. As of the beginning of 2024, there were 229 Russian spacecraft in orbit.

On the prospects for private astronautics in Russia – in material Kommersant FM.