The space industry has the potential to become a
As the space economy takes off over the next decade, and space-based infrastructure around Earth expands, economic activity is expected to extend into space as well, starting with the moon. This is because the moon, once thought to be a barren rock, may hold a treasure trove of untapped resources. Geological surveys show that the moon contains three crucial elements: rare earth metals, including gold and platinum, used in modern electronics; helium-3, a potential fuel for nuclear fusion and water, which can be converted into rocket fuel. The presence of water is especially significant as it means spacecraft can be refueled in lunar orbit or at lunar bases, making space travel more cost-effective. Turning the moon into a refueling station would make it a vital space hub between Earth and other planets, with the moon serving as a launchpad for space exploration. These factors explain the 'lunar gold rush,' and the renewed interest in landing astronauts on the moon.
What's noteworthy about lunar exploration in the 21st century is that space endeavors are no longer driven solely by government interests, as they were in the past. The new space era has seen accelerating market activity, whereby the launches of missions - including lunar landings - are carried out by governments and commercial companies. Given that space exploration requires significant financial investment in research and development (R&D) and infrastructure, as well as prowess in aerospace engineering and political will, the synergy between public and private sectors will be crucial to innovation and growth as the space economy gathers pace - on Earth, the moon, and beyond - over the next decade.
New global race to the moon
The world's leading powers and their private sectors have already begun taking steps to send spacecraft to the moon. In February of this year, a lunar lander built by
To achieve this goal,
Hanwha leads
When Nuri successfully put commercial-grade satellites into orbit in 2023,
With decades of experience in the space industry, Hanwha has been heavily involved in developing diverse space-based technologies, including space launch vehicles, satellites and antennas, satellite-based communications, and Earth orbit observation systems. The latest venture will be a much more complex mission requiring extensive coordination between Hanwha and KARI, and among Hanwha's affiliates with expertise in solid-fuel rockets, liquid-fuel engines, Earth observation satellites, and payloads. The project will also provide the momentum for technological advancement and market opportunity.
While the Nuri spacecraft proved
To the moon and beyond
Hanwha's strong R&D has been the driver behind its success in the Korean space economy thus far. The company has invested heavily in the aerospace industry with a focus on technological innovation and value chain creation. The Hanwha Aerospace Daejeon R&D campus is the country's only R&D center that can plan and test entire sections of space launch vehicles and has played a pivotal role in advancing
For KSLV-III, rocket propulsion technology - a cornerstone of space exploration - will be a critical factor as the performance of the engine influences the velocity, acceleration, and payload capacity of the rocket, all of which play significant roles in determining its range and capabilities. For comparison, the Nuri rocket produced 300 tons of thrust, the force needed to overcome gravity, using four 75-ton engines built by Hanwha during launch. To build the next-generation rocket, the Hanwha team will need to develop a multistage rocket with five 100-ton staged combustion cycle liquid engines in the first stage and two 10-ton liquid engines in the second stage, totaling three times the power of Nuri by payload capacity. The key to producing this engine will be clustering technology, a much more advanced and technically difficult feat. Powered by these complex technologies, the aim is to have KSLV-III operate more efficiently and stably compared to previous models.
That's not the only factor that will differentiate KSLV-III from its predecessors. The new rocket will consist of two stages in total, unlike Nuri, which consisted of three stages. Having fewer stages means the KSLV-III will be able to increase efficiency, lower manufacturing costs, and shorten the production schedule thanks to the reduced number of components and variables. Additionally, the engine, thrust control, and re-ignition system will be developed using technology for reusable rockets. Hanwha is working separately on a government-issued project for the development of a reusable rocket, and these two projects will ultimately come together to create a large-scale reusable rocket.
By lowering the cost of rocket launches and making space exploration more reliable and efficient, space-enabled sectors will be fully activated and launch a commercial space age ripe with opportunity.
The first KSLV-III launch is targeted for 2030, with a lunar probe on board, and the second for 2032, with a lunar lander that will be powered by Hanwha-developed thruster technology. Hanwha previously developed the thruster for
As the world prepares for the economic, humanitarian, and geopolitical dimensions of the coming era, both public and private sectors will need to lay a solid foundation to ensure harmonious growth. Hanwha will continue to unlock long-term opportunities within the global space industry as the world embraces a space economy brimming with collaborative value creation.
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