Isar Aerospace, a German rocket company, has raised €155 million in a new round of funding to launch its Spectrum rocket into Earth orbit in the second half of this year. The Munich-based company seeks to launch small and medium-sized satellites into orbit from the Andøya Space launch facility in Norway. The company’s goal is to prevent the European space industry from being left behind in an ever-intensifying race.
A project in search of competitiveness
The space sector has seen a lot of activity in recent years with the arrival of new start-ups that seek to rival SpaceX, the company of businessman Elon Musk that has made great strides in space exploration, especially in the commercial launch sector. In Europe, however, the supply of launchers is limited, with only two operational rockets: the heavy Ariane 5, from the ArianeGroup company, and the Vega launcher from the Italian company Avio.
That is why Isar Aerospace seeks to become the spearhead of a movement that boosts the European space industry. The company, founded in 2018, has so far raised a total of 310 million euros. With the latest round of financing, the company has increased its value and has managed to add Porsche SE, one of its new investors, to its supervisory board.
Spectrum: a launcher made in Europe
The main objective of Isar Aerospace is to carry out the first launch of its Spectrum rocket to Earth orbit in the second half of this year. Spectrum is a two-stage launcher capable of launching payloads of up to 1,000 kilograms into orbit. The company has already signed a 20-year exclusive agreement with the Andøya Space launch facility in Norway, which is located at a high latitude ideal for launches into polar orbits.
The Spectrum has been designed to be competitive in the market for small and medium satellite launches, which is expected to grow in the coming years due to the increasing demand for Earth observation and connectivity services. For this, the company has developed its own engine called Aquilawhich has successfully passed numerous hot start tests.
A European space industry that needs to improve
The European space industry has been the subject of concern of late, as some experts warn that it is at risk of being left behind in an ever-intensifying race. The European Commission has proposed a plan to strengthen the space industry in the European Union, but much remains to be done.
A recent report by a panel of experts commissioned by the European Space Agency has warned that Europe risks missing out on the next big tech boom if it doesn’t improve its launch capabilities and funnel more funds into its space industry. The report calls for a plan to bring European astronauts to the lunar surface in the next ten years and to develop lunar mining and exploration technologies.
Can any company compete with SpaceX?
SpaceX’s role in the commercial satellite launch market is undeniably dominant today. Even NASA relies heavily on Elon Musk’s company to transport its astronauts to and from the International Space Station. Therefore, talking about competing with SpaceX requires some context.
One of SpaceX’s biggest private competitors, Rocket Lab, has yet to fly its next-generation Neutron rocket, which it hopes will allow it to compete with SpaceX’s current Falcon 9 rocket. For its part, SpaceX is in final preparations to carry out the first orbital flight of its massive Mars Starship rocket next month. Elon Musk has warned that successful completion of this flight is not guaranteed on the first try, showing that there is still a long way to go for startups looking to get their rockets into space.
A step forward for the European space industry
The success of Isar Aerospace and its Spectrum launcher could mean a major breakthrough for the European space industry. Although there are several startups on the continent looking to fill the gap in the satellite launch market, the success of Isar Aerospace could pave the way for future European launchers.
Ultimately, the success of Isar Aerospace will depend on its ability to meet established deadlines and expectations. If the company succeeds in launching its Spectrum this year, it could show that Europe has the potential to compete in the global satellite launch market. In addition, further success of the European space industry could boost the development of advanced technologies and encourage investment in research and development across the continent.
