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At the recently held 2025 China 5G + Industrial Internet Conference, the Ministry of Industry and Information Technology officially launched the commercial trial of satellite IoT services.
This marks the acceleration of China’s commercial space industry chain from upstream manufacturing to downstream applications, as the commercial satellite industry is about to enter a new phase driven by demand and supported by supply.
In addition, the large liquid-fueled reusable rocket Zhuque-3, under Landspace, is set to make its maiden flight in mid to late November, expected to become China’s first operational reusable launch vehicle, providing strong momentum for the large-scale deployment of satellite networks.
The deep integration of satellite IoT and the commercial space industry will create vast market space and investment opportunities.
This article will review the 39 most promising core companies in satellite manufacturing, satellite launching, ground communication, satellite operation, and the related industrial chain of Landspace.
01
Satellite Manufacturing
1. Tianyin Electromechanical
Subfield: Core satellite sensors
Concept association: Subsidiary Tianyin Interstellar is a manufacturer of star sensors
Company highlights: Tianyin Interstellar holds a leading position in the domestic star sensor market, with products widely used in various satellite types, providing core support for satellite attitude measurement and precise positioning.
2. China Satellite
Subfield: Aerospace manufacturing and satellite applications
Concept association: A corporate group focused on aerospace manufacturing and satellite applications
Company highlights: As a core enterprise under the China Aerospace Science and Technology Corporation, it possesses complete capabilities in satellite development, assembly, testing, and application services, participating in multiple national major aerospace projects, and is a leading enterprise in the industry.
3. Huali Chuangtong
Subfield: Core components and systems for aerospace
Concept association: Provides autonomous core components, terminals, and systems for aerospace
Company highlights: Has deep technical accumulation in satellite navigation, satellite communication, and simulation testing, with products covering chips, modules, terminals, and system-level solutions, serving military and civilian satellite projects.
4. Shaanxi Huada
Subfield: Satellite communication connectors
Concept association: A leading domestic RF coaxial connector enterprise, products used in satellite communication systems
Company highlights: Focuses on the research and manufacturing of high-reliability connectors, with products widely used in aerospace, satellite communication, and other fields, undertaking multiple national key engineering support tasks.
5. Shanghai Hanxun
Subfield: Broadband mobile communication systems
Concept association: Core supplier of military broadband mobile communication systems, technology transferred to satellite communication
Company highlights: The independently developed broadband communication technology supports high-speed data transmission, with potential application advantages in military emergency communication and future satellite communication payloads.
6. Shanghai Huguang
Subfield: Spacecraft structural components and special welding
Concept association: A professional manufacturer of metal structural components for spacecraft, participating in the manufacturing of various satellite capsules
Company highlights: Possesses high-precision processing equipment and aerospace-grade welding process certification, providing key metal structural components for the Long March series rockets and various satellites.
7. Yaguang Technology
Subfield: Microwave circuits and chips
Concept association: A leading manufacturer of military microwave circuits, products extend to satellite communication payloads
Company highlights: Technically advanced in microwave circuits, chips, and components, with core products like TR components widely used in radar, electronic countermeasures, and satellite communication payloads.
02
Satellite Launching
8. Tianjian Technology
Subfield: Solid-state launchers
Concept association: Responsible for the development of solid-state launchers in the microwave altimeter radar subsystem for manned spaceflight
Company highlights: High-power solid-state launcher technology fills a domestic gap, successfully applied in various remote sensing satellites and spacecraft, boosting precise altimetry and remote sensing detection.
9. Zhongtian Rocket
Subfield: Sounding rockets and solid rocket engines
Concept association: A unit under China Aerospace engaged in the development of sounding rockets
Company highlights: A leading domestic small solid rocket enterprise, with core technologies and market share in sounding rockets, rain enhancement rockets, and solid rocket engines.
10. Aerospace Chuangguang
Subfield: Aerospace special piping systems
Concept association: Provides metal hoses for aerospace launch missions
Company highlights: A core supplier of aerospace special piping systems, products used in rocket fuel delivery and spacecraft fluid control systems, featuring high pressure resistance and corrosion resistance.
11. Guanglian Aviation
Subfield: Aerospace composite structural components
Concept association: Provides composite material forming tools and structural components for launch vehicles
Company highlights: An important supporting supplier in the domestic aerospace composite material manufacturing field, participating in the development of structural components and tools for multiple models of the Long March series rockets, with leading technology and processes in the industry.
12. Aerospace Development
Subfield: Aerospace electronic information and measurement control
Concept association: An electronic information platform under the Aerospace Science and Industry Corporation, products cover rocket measurement and control systems
Company highlights: Holds core competitiveness in aerospace electronic information, electronic countermeasures, and measurement control, providing key guarantees for rocket launches and satellite operations in orbit.
13. Boyun New Materials
Subfield: Aerospace high-temperature materials
Concept association: Supplier of braking systems for domestic large aircraft, technology extends to aerospace
Company highlights: Independently developed carbon/carbon composite materials are used in rocket engine nozzles and spacecraft thermal protection structures, exhibiting excellent high-temperature resistance and ablation resistance.
14. Shenkai Co., Ltd.
Subfield: Aerospace special equipment and testing
Concept association: Provides fuel filling monitoring systems for spacecraft
Company highlights: A leading oil equipment enterprise that has crossed into the aerospace field, the developed intelligent monitoring system ensures the safety of rocket fuel filling and the detection of key spacecraft states.
03
Ground Communication
15. Zhenlei Technology
Subfield: RF front-end chips and microwave components
Concept association: Products mainly used in satellites and satellite communication payloads
Company highlights: RF front-end chips and microwave millimeter-wave phased array TR component technology is leading domestically, with satellite products already delivered in batches, supporting the construction of low-orbit satellite communication systems.
16. Guorui Technology
Subfield: Satellite ground systems
Concept association: Undertook the construction of China’s Fengyun series meteorological satellite ground systems
Company highlights: A listed platform under China Electronics Technology Group Corporation 14th Institute, leading the construction of Fengyun satellite data reception, processing, and distribution systems, with a high market share in the meteorological satellite ground system field.
17. Aerospace Hongtu
Subfield: Satellite remote sensing and space data integration
Concept association: Achieves space data integration through SAR satellite constellations and drone data collection
Company highlights: A leading domestic remote sensing data processing and application service provider, self-built “Nüwa Constellation” promotes integrated monitoring of space and earth, providing SaaS services for government and industry clients.
18. Aerospace Huanyu
Subfield: Satellite communication terminals
Concept association: Specializes in the research and development of satellite communication terminals
Company highlights: Independently developed shipborne, vehicle-mounted, and portable satellite communication terminals have wide applications in marine fisheries, emergency communication, etc., with a leading market share.
19. Aerospace Electronics
Subfield: Aerospace measurement and control equipment and systems
Concept association: Core supporting unit for aerospace electronic systems
Company highlights: Provides key measurement and control components for Beidou navigation satellites, participates in the construction of a global satellite ground station network, with a complete technical system in aerospace measurement and control, navigation, and communication fields.
20. Zhenxin Technology
Subfield: Beidou navigation chips and terminals
Concept association: Core supplier of Beidou navigation terminals
Company highlights: The first domestic enterprise to achieve mass production of Beidou III baseband chips, with products widely used in satellite positioning and navigation terminals, being a key link in the Beidou industry chain.
21. Qiyi Er
Subfield: Military wireless communication and satellite terminals
Concept association: A leading manufacturer of military ultra-shortwave communication equipment, technology extends to satellite communication
Company highlights: Independently developed satellite tactical terminals equip multiple military units, dominating the military communication and emergency communication markets.
22. Jinxin Nuo
Subfield: Special cables and connectors
Concept association: Supplier of special cables and connectors, products used in satellite ground stations
Company highlights: High-frequency and high-speed connector and cable technology breaks international monopolies, providing high-speed signal transmission solutions for satellite ground stations, radars, etc.
23. Mengsheng Electronics
Subfield: Satellite navigation and satellite communication terminals
Concept association: Focuses on satellite navigation and satellite communication terminal equipment
Company highlights: The domestic market leader in shipborne satellite navigation terminals, with independently developed moving communication system technology meeting international leading indicators, widely used in military and civilian fields.
04
Satellite Operation
24. China Satcom
Subfield: Satellite space segment operation
Concept association: High-tech enterprise for satellite space segment operation and related application services
Company highlights: The second largest fixed satellite operator in Asia, operating 15 communication satellites, providing broadcasting, broadband access, etc., expanding in marine communication and aviation internet fields.
25. Asia-Pacific Satellite
Subfield: Satellite broadcasting and telecommunications services
Concept association: Business includes holding, operating, and providing satellite broadcasting and telecommunications services and other related services
Company highlights: A Hong Kong-listed satellite operator covering 90% of the population in the Asia-Pacific region, recognized by the International Telecommunication Union as a major satellite service provider, offering video, data, and voice transmission services.
26. Dahua Intelligent
Subfield: Satellite internet business
Concept association: Satellite internet business covers land and remote area satellite communication, marine fisheries satellite communication, emergency satellite communication, etc.
Company highlights: Constructs a “sea-land-air” three-dimensional communication network, leading in marine fisheries satellite communication and emergency rescue markets, with integrated software and hardware solutions.
27. Haige Communication
Subfield: Beidou navigation and satellite communication operation services
Concept association: Leading manufacturer of military Beidou navigation equipment, expanding into civilian operation services
Company highlights: Participates in the construction of the Beidou ground enhancement system, providing high-precision positioning services, with strong capabilities in shortwave communication, satellite communication terminals, and system integration.
28. Beidou Xingtong
Subfield: Beidou high-precision positioning services
Concept association: The first listed company in the Beidou satellite navigation industry
Company highlights: Leading domestic technology in navigation chips and boards, providing centimeter-level high-precision positioning services for smart connected vehicles, shared bicycles, etc., with the highest market share in the vehicle-mounted pre-installed market.
29. Hangyu Micro
Subfield: Remote sensing data services and micro-nano satellite manufacturing
Concept association: Formerly Oubit, operates the “Zhuhai-1” satellite constellation
Company highlights: The first private satellite constellation operator in China, has built the world’s first hyperspectral satellite constellation, providing remote sensing data collection, processing, and application services, covering land, environmental protection, agriculture, etc.
05
Landspace Related
30. Suri New Materials
Subfield: Key materials for rocket engines
Concept association: Exclusive supplier of nanocrystalline copper materials for the inner wall of Landspace rocket engine thrust chambers
Company highlights: Nanocrystalline copper material technology breaks international monopolies, significantly enhancing the lifespan and performance of engine thrust chambers, being a core supplier for the Zhuque series rockets.
31. Chaojie Co., Ltd.
Subfield: Spacecraft structural components
Concept association: Supplies Landspace rocket fairings and body segments
Company highlights: Leading in aerospace-grade composite material forming technology, providing lightweight and high-strength structural components for launch vehicles, enhancing rocket carrying capacity.
32. Goldwind Technology
Subfield: Investment in new energy and aerospace industries
Concept association: Directly and indirectly holds shares in Landspace
Company highlights: As a leading wind power enterprise, actively invests in commercial aerospace through industrial funds, aiming to share technological achievements in new materials and intelligent manufacturing.
33. Bolite
Subfield: Aerospace metal 3D printing
Concept association: Provides additive manufacturing services for rocket engines
Company highlights: A leading domestic metal 3D printing enterprise, providing additive manufacturing solutions for complex structural components for Zhuque rockets, significantly improving manufacturing efficiency and part performance.
34. Gaohua Technology
Subfield: Spacecraft sensors
Concept association: Provides pressure and temperature sensors for rockets
Company highlights: A reliable supplier of aerospace sensors, products widely used in the control systems of launch vehicles and spacecraft, ensuring flight safety and precise control.
35. Luxin Venture Capital
Subfield: Equity investment in the aerospace industry
Concept association: Participates in Landspace through its funds
Company highlights: A venture capital platform backed by state-owned assets in Shandong Province, investing in strategic emerging industries such as aerospace and high-end equipment, promoting the integration of the commercial aerospace industry chain and technological innovation.
36. Zhangjiang Hi-Tech
Subfield: Aerospace industrial parks and incubation
Concept association: The park houses enterprises including the Landspace R&D center
Company highlights: A core carrier of Shanghai’s innovation center, providing quality R&D environments, incubation services, and industrial support for commercial aerospace enterprises, aiding the development of commercial aerospace industry clusters.
Note: The above content does not constitute any investment advice, guidance, or commitment, and is for discussion purposes only.