Beyond Horizons
Trailblazing Tales from Asia
Your exclusive gateway to the latest developments across transportation and space, and most importantly, how to finance it all - debt, equity, and defi! We follow and forecast where the money’s at.
Join us as we navigate through the latest roundup to uncover key developments across the region.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**
Announcement
Aviation Carbon 2024
I’m grateful to have had the opportunity to speak at Aviation Carbon 2024 in London on November 25-26.
It was an honor to contribute to the important discussions around sustainability in aviation and the industry's path toward net-zero emissions. Thank you to everyone who attended and engaged in such insightful conversations.
Looking forward to continuing the dialogue and working together to create a more sustainable future for aviation!
Global Taxonomies: Aviation Included or Likely to be Added in a Third of Cases.
And, I’m excited to be quoted in Ishka's recent article, "Global Taxonomies: Aviation Included or Likely to be Added in a Third of Cases."
In this piece, I discuss the significance of the Singapore-Asia Taxonomy, launched in December 2023, as a key development in Asia's green finance landscape. I highlight its potential for cross-border application, featuring a unique green, amber, and red classification system for activities, including aviation. I also emphasize that its principles-based framework enables emerging economies to transition gradually toward more technical standards.
While it may not overhaul aviation in the short term, this framework aims to align with regional taxonomies and drive sustainable progress across sectors, including aviation.
Thank you to Ishka for featuring my insights!
Read
CORSIA: Costs and Implications for Airlines - November 2024
A recent report on CORSIA (Carbon Offsetting and Reduction Scheme for International Aviation) analyzes the potential costs and impacts for airlines. Key findings include:
Demand: Airlines may require 106-137 million tonnes of CO2 equivalent (MtCO2e) in Phase I (2024-2026) and 502-1,299 MtCO2e in Phase II (2027-2035).
Supply Limitations: CORSIA credits may be in short supply, with estimates of 94 MtCO2e in Phase I and 900 MtCO2e in Phase II.
Cost Impact: Credit prices could range from USD 18-51 per tonne in Phase I and USD 27-91 in Phase II. Total costs for airlines could reach USD 1.9-7.0 billion in Phase I and USD 13-109 billion in Phase II, translating to up to a USD 5 increase per ticket.
Impact on Airlines: If costs are passed on, ticket prices could rise by up to 1%. If absorbed by airlines, profits could fall by up to 4%.
Airfare, jet fuel price, and inflation, November 2024
The IATA report highlights key trends from 2015 to August 2024.
Airfares have risen slower than consumer prices, showing that ticket prices haven’t fully kept up with inflation, especially when compared to rising jet fuel costs. Jet fuel, now accounting for about 30% of airlines’ operating costs, has significantly outpaced inflation and remains the largest and most volatile expense.
As a result, airlines are absorbing some of these cost increases instead of passing them entirely onto consumers, impacting their margins.
Decarbonising Aviation – Vitol’s view
A report by Vitol outlines the significant challenges aviation faces in achieving net-zero emissions by 2050. While aviation currently accounts for 2% of global CO2 emissions, emissions are projected to triple by 2050, potentially consuming a quarter of the global carbon budget.
Key findings include:
Sustainable Aviation Fuel (SAF): SAF can reduce emissions by up to 80%, but it currently meets only 0.1% of jet fuel demand due to limited feedstocks and high costs.
Synthetic SAF: This fuel, made from captured carbon and green hydrogen, shows promise but requires breakthroughs to reduce costs.
Alternative Propulsion: Battery-electric and hydrogen technologies may work for short-haul flights but are unlikely to meet the needs of long-haul aviation by 2050.
The report stresses the need for collaboration, innovation, and unified regulations, highlighting global initiatives like the EU’s RefuelEU and CORSIA as crucial steps toward decarbonizing the sector.
Guide on Climate Action for Boards in Southeast Asia
ClientEarth, in partnership with Climate Governance Malaysia and Earth on Board, has launched a guide to help corporate directors in Southeast Asia address climate-related risks and governance challenges. The region, vulnerable to climate impacts, could lose 14.9% of its GDP by 2050 without action. However, achieving net-zero emissions could boost GDP by 6.3% and create millions of jobs. The guide provides recommendations for embedding sustainability at the board level, setting science-based targets, and aligning operations with decarbonization goals. It also emphasizes the growing importance of international regulations and transparency standards.
Summary
Financing & Investments: DBS and Japan Finance Corporation Partner to Support Japanese SMEs in Expanding Across Asia; MAS and NFRA Strengthen Supervisory Cooperation at Suzhou Roundtable; Deutsche Bank Joins $80 Million Series B Funding for Blockchain Firm Partior; Simaero to Open First Flight Simulator Training Centre in India by 2025; and AAHK Acquires Stake in Zhuhai Airport to Boost GBA Aviation Collaboration
Environmental Sustainability: COP29 Concludes with New $300 Billion Climate Finance Goal and Key Agreements; AEON MALL and Partners Launch Cooking Oil Recycling for SAF Production in Osaka; KKIA and LIA Achieve Carbon Accreditation Level 1; Maybank Singapore Empowers SMEs with New Sustainability Reporting Tool; ZenGroup Partners with DHL Japan to Reduce Emissions Using SAF; and HSBC Hong Kong, Cathay Pacific, and EcoCeres Launch SAF Initiative
Aviation: EASA Lifts Ban on Pakistan International Airlines (PIA) Operations to Europe; Hong Kong International Airport Launches Three-Runway System; Auckland Airport Upgrades Runway Lights to LED; Wellington Airport Unveils New Brand and $500 Million Infrastructure Upgrade; Macao Launches Airport Expansion with Land Reclamation Project; Bangalore International Airport Achieves AAA Credit Rating; and Wage Growth for Australian Engineers Amid Ongoing Workplace and Gender Equity Concerns
Advanced Air Mobility: AutoFlight's 2-Ton eVTOL Aircraft Makes First Flight in Japan; Lanyi Aviation Rolls Out LE200 Prototype, Advances to Test Flight Stage; EHang Announces $30 Million Share Repurchase Program; and China Could Have 100,000 eVTOLs by 2030, Report Predicts
Marine: Meta Partners with Norden for Carbon Offset Deal Using Biofuels; MMMCZCS and RMI Launch Katalist to Drive Shipping Decarbonization; Strategic Marine Wins Contract for Crew Transfer Vessel in South Korea; HMM Unveils First LNG-Fueled Containerships in South Korea; China Plans First Export Quota for Marine Bunker Blended with Biodiesel; and Norsepower Opens First Rotor Sail Factory in China
Space: China Tests Expandable Space Module During Shijian-19 Mission; Engine Explosion Disrupts Development of Japan’s Epsilon S Rocket; and India Plans Moon-Orbiting Space Station by 2040
Financing & Investments
Asia
DBS Bank and Japan Finance Corporation (JFC) have signed a Memorandum of Understanding (MoU) to assist Japanese small and medium-sized enterprises (SMEs) in expanding into six key Asian markets: China, Hong Kong, India, Indonesia, Singapore, and Taiwan. The partnership enables SMEs to access these markets through a single banking partner, leveraging DBS’ regional expertise in digital payments, trade financing, and connections to professional services.
💡JFC will support the initiative by issuing standby letters of credit, facilitating long-term funding in local currencies.
Singapore-China
The Monetary Authority of Singapore (MAS) and the Chinese National Financial Regulatory Administration (NFRA) held the first in-person Supervisory Roundtable since 2020 in Suzhou, China. Co-chaired by MAS Deputy Managing Director Ho Hern Shin and NFRA Vice Minister Zhou Liang, the meeting reaffirmed their commitment to enhancing supervisory cooperation. The discussions focused on supervisory priorities for banks, updates to NFRA’s insurance supervision framework, and developments in asset management.
💡The agencies also reflected on two years of collaboration, including knowledge-sharing on technology resilience, digital assets, and green finance.
Singapore
Deutsche Bank has participated in the extended Series B funding round for blockchain-based fintech firm Partior, bringing the total raised to $80 million. The round, which originally secured $60 million in July 2024, was led by Peak XV Partners and included J.P. Morgan, Standard Chartered, Temasek, and others. Deutsche Bank’s investment will support Partior’s global expansion and enhance its cross-border payment capabilities. The bank will act as a settlement partner for the platform in USD and EUR. Partior, which uses blockchain for real-time clearing and settlement, aims to improve the speed, transparency, and security of payments.
💡Despite a 75% surge in losses for 2023, the company reported a milestone, processing over $1 billion in transactions.
France-India
French aviation training company Simaero is set to open its first flight simulator training centre in Delhi by early 2025 to meet the rising demand for trained pilots in India. The centre will feature advanced simulation technology, beginning with a full-flight simulator for the Airbus A320 Neo, provided through a partnership with Turkish company Havelsan.
💡Simaero plans to expand the Delhi facility to include eight full-flight simulators for narrow-body aircraft (A320 Neo, ATR 72-600, Boeing 737) and introduce a wide-body simulator by 2026 or 2027. The company is investing €200 million over the next decade to establish training centres across India.
Hong Kong-Mainland China
The Airport Authority Hong Kong (AAHK) has signed an agreement to acquire a 35% stake in Zhuhai Airport for CNY 4.3 billion, strengthening cooperation between Hong Kong International Airport (HKIA) and Zhuhai Airport. The move aims to enhance the development of a world-class airport cluster in the Greater Bay Area (GBA) and support the region's aviation industry.
The partnership will leverage the Hong Kong-Zhuhai-Macao Bridge to increase passenger and cargo traffic at Zhuhai Airport, while providing GBA travelers with access to HKIA’s global network. AAHK will also extend its management rights for Zhuhai Airport operations until 2046.
💡Since 2006, AAHK has worked with Zhuhai to improve airport operations, with Zhuhai Airport handling over 11 million passengers in 2023. The airport's expansion, including a new Terminal 2 set to open in 2025, will increase capacity to over 27 million passengers annually. AAHK and Zhuhai Airport are also collaborating on the "Fly-Via-Zhuhai-HK" service, offering seamless transfers between the two airports. Additionally, the two parties will develop a high-end aviation industrial park to boost the GBA’s aviation industry.
Environmental Sustainability
Global
COP29 in Baku concluded with a historic agreement to triple climate finance for developing countries to $300 billion annually by 2035, as part of the New Collective Quantified Goal on Climate Finance (NCQG). The agreement also aims to mobilize $1.3 trillion per year by 2035 from both public and private sources to support clean energy and climate resilience.
Key outcomes included the finalization of carbon market frameworks under the Paris Agreement, facilitating emissions trading and increasing finance flows to developing countries. The conference also saw progress in transparency, with 13 countries submitting their first Biennial Transparency Reports, and the launch of the Baku Adaptation Road Map, supporting National Adaptation Plans and dedicated funding for least developed countries. In addition, the Lima Work Programme on Gender was extended, with a renewed focus on Indigenous and youth participation in climate action.
💡The conference emphasized the need for stronger Nationally Determined Contributions (NDCs) to meet the 1.5°C warming limit, with the UK and Brazil signaling plans for ambitious updates. COP29 set the stage for COP30 in Belém, Brazil, as global climate efforts intensify.
Japan
AEON MALL Co., Ltd., Kansai Airports, SAFFAIRE SKY ENERGY, and REVO International Inc. are teaming up to install household waste cooking oil bins at five AEON MALL locations in Osaka Prefecture, starting in January 2025. The collected oil will be recycled into Sustainable Aviation Fuel (SAF) as part of the “Fly to Fly Project,” an initiative aimed at achieving decarbonization through domestic resource recycling.
💡REVO International will collect and transport the oil to SAFFAIRE SKY ENERGY’s upcoming SAF plant in Osaka, set to begin operations in fiscal 2025. Collection points will be established at AEON MALLs in the region to increase oil collection, reduce local waste, and support a circular economy as part of a “Circular Mall” model.
Malaysia
Kota Kinabalu International Airport (KKIA) and Langkawi International Airport (LIA) have earned Airport Carbon Accreditation (ACA) Level 1 Mapping from Airports Council International (ACI), joining over 600 airports working towards net-zero carbon emissions. Malaysia Airports plans to expand ACA certification across its network, with ongoing sustainability initiatives such as solar power, energy-efficient lighting, and waste management.
💡In October 2024, Malaysia Airports recorded 7.7 million passengers, with new routes boosting traffic.
Singapore
Maybank Singapore has launched a new feature in its myimpact SME programme, enabling SMEs to calculate carbon emissions and report key environmental, social, and governance (ESG) metrics. The initiative, in collaboration with ESGpedia, offers an online tool for businesses to track their environmental impact and generate reports compliant with international standards like ISO14064. Part of a regional Maybank Group effort, the programme provides SMEs with tailored resources to enhance sustainability practices, secure sustainable financing, and stay competitive.
💡Additionally, the programme includes HERpower, supporting women entrepreneurs with financing solutions, fee waivers, and networking opportunities.
Japan
Cross-border e-commerce platform ZenGroup has signed an agreement with DHL Japan to utilize its GoGreen Plus service, which reduces greenhouse gas emissions by using Sustainable Aviation Fuel (SAF) for transportation. SAF can cut lifecycle emissions by up to 80%, helping businesses address environmental challenges.
💡ZenGroup will use GoGreen Plus for all shipments, covering the cost without passing it on to customers.
Hong Kong
HSBC Hong Kong, Cathay Pacific, and EcoCeres have launched a new initiative to support the use of SAF in Hong Kong. HSBC signed a one-time agreement to purchase 3,400 metric tonnes of SAF from EcoCeres, for use in Cathay Pacific flights from Hong Kong International Airport. This marks HSBC's largest SAF purchase to date.
💡The collaboration aims to support long-term decarbonisation in air travel and build a local SAF ecosystem. The initiative, backed by the Hong Kong government, aligns with the city’s vision to set SAF usage targets for the aviation sector. EcoCeres produces SAF from waste-based biomass feedstock, including used cooking oil. This project follows the launch of the Hong Kong Sustainable Aviation Fuel Coalition earlier this year.
Aviation
Pakistan
The European Union Aviation Safety Agency (EASA) has lifted its four-year ban on Pakistan International Airlines (PIA) from flying to Europe. The ban was imposed in May 2020 following the crash of Flight 8303, which raised concerns over the validity of pilots' licenses, including those at PIA.
EASA confirmed on November 29 that it has regained confidence in the Pakistan Civil Aviation Authority's (PCAA) oversight, allowing PIA to resume commercial flights to and from the EU. The UK Civil Aviation Authority has yet to announce if it will follow EASA's decision.
💡Before the ban, PIA served 17 routes to the EU and UK, with flights to destinations like London and Barcelona.
Hong Kong
Hong Kong International Airport officially launched its three-runway system on Thursday, strengthening its position as a global aviation hub. The new system is expected to increase the airport's capacity to 120 million passengers and 10 million tonnes of cargo annually, boosting business opportunities for Hong Kong.
💡The three-runway system will enhance air capacity and expand international connections, particularly for the Guangdong-Hong Kong-Macao Greater Bay Area. The construction, costing approximately 141.5 billion HKD ($18.18 billion), began in 2016 and includes a third 3,800-meter runway, a new terminal, concourse, automated systems, and baggage handling infrastructure. The third runway began operations in July 2022.
New Zealand
Auckland Airport has completed the conversion of its runway lighting system to LED technology, replacing the previous halogen lamps with around 600 LED lights across the 3.6km runway. The upgrade is part of a broader initiative to modernize the airport's airfield lighting, aiming to improve safety, energy efficiency, and long-term reliability. The new LED lights use up to 70% less energy and last significantly longer than halogen lamps.
💡In addition to the runway lights, the airport is focused on replacing thousands of halogen lights across taxiways, aprons, and aircraft stands, with the project phased over the next 10 years. The airport is also constructing a new power center to enhance resilience and support future expansion, ensuring the infrastructure meets the demands of the future.
New Zealand
Wellington Airport has revealed a new brand and announced plans for a $500 million infrastructure investment over the next five years. The upgrades include runway safety enhancements, terminal improvements, and new community facilities at Lyall Bay. The new brand, inspired by local pūrākau, reflects the airport's connection to the land, symbolizing it as a transformational gateway.
💡The infrastructure project includes the installation of an engineered materials arresting system (EMAS) in March 2025, designed to improve runway safety by extending the usable length of the runway, offering increased landing and take-off distances. Terminal upgrades will feature improved arrival and departure areas, a multi-level bar, and a café with panoramic views.
Macau
The groundbreaking ceremony for the Macau International Airport (MIA) Expansion and Reclamation Project was held on November 22, 2024. The project will reclaim 129 hectares of land, enhancing the airport's capacity and facilities. The expansion is designed to meet the growing demand for passenger and cargo transport, with the aim to boost the airport’s annual passenger handling capacity to 13 million by 2030.
💡 The project will unfold in phases, including the construction of new taxiways, aircraft stands, and aprons, along with safety improvements such as expanded drainage systems. It will also focus on environmental sustainability with a commitment to eco-friendly reclamation practices and long-term environmental monitoring.
India
Bangalore International Airport Limited (BIAL), operator of Kempegowda International Airport Bengaluru (BLR), has earned an AAA credit rating (Stable Outlook) from ICRA Ltd, India Ratings, and Crisil Ratings. This top-tier rating reflects BIAL’s financial stability and operational strength as the third-largest airport in India, with a capacity of 51.5 million passengers annually. Key factors include projected passenger traffic growth of 10-11% in FY2025, extending its concession agreement until 2068, and strong joint ownership.
💡BIAL plans to invest Rs. 16,000 crores by 2029 to expand capacity to 80 million passengers.
Australia
According to the 2024 remuneration report from the union Professional Engineers, Australia’s engineers saw a 3.9% wage increase in 2024, up from 2.3% in 2022, amid ongoing engineering shortages, particularly in the aerospace sector. However, several workplace issues persist. Forty-one percent of engineers reported receiving no overtime compensation, nearly half cited workplace stress, and one-third highlighted concerns about poor management, culture, and unreasonable workloads.
Gender equity remains a significant challenge in the sector, with women making up just 13% of the engineering workforce and facing an annual pay gap of up to $15,000. Moreover, 29% of women engineers reported experiencing sexual harassment, compared to 2% of men. Women also reported inadequate workplace policies and education on harassment, with many feeling their workplaces have insufficient measures in place.
💡Broader trends in STEM fields reflect similar patterns, with women more likely to hold insecure, part-time, or contract roles. Only 58% of women in STEM hold full-time permanent positions, compared to 78% of men.
Advanced Air Mobility
China-Japan
On November 29, 2024, AutoFlight's 2-ton eVTOL aircraft completed its inaugural flight in Okayama, Japan, marking the first flight of a Chinese eVTOL of this scale in the country. The test flight, supported by Japan's Civil Aviation Bureau and the Mizushima Aero Space Cluster (MASC), is part of the 'Setouchi Area AAM Infrastructure 2028 Project,' with plans for additional flights across Japan. The milestone follows successful demonstrations in China and Abu Dhabi earlier this year.
💡The aircraft is expected to enhance connectivity in Japan’s Setouchi region, addressing transportation challenges with a focus on cargo, medical aid, tourism, and future passenger services.
China
Lanyi Aviation marked a key milestone with the delivery of its LE200 eVTOL prototype at Bailong Airport in Hefei, moving the project into its test flight phase.
💡The LE200, a 5-seat passenger eVTOL with a 200 km range and speed of 200 km/h, is set for certification by 2027 and deliveries in 2028. The company is also developing the LEU100, a logistics drone with a 55 kg payload and 200 km range, targeting certification in 2025.
China
EHang's Board of Directors has approved a Share Repurchase Program, allowing the company to repurchase up to US$30 million of its American Depositary Shares (ADSs) or ordinary shares over the next 12 months.
💡Repurchases will be made through open market transactions, private negotiations, and block trades, subject to market conditions and legal regulations. The company plans to fund these repurchases using its existing cash balance and operational cash flow.
China
China could have up to 100,000 eVTOLs serving as family vehicles or air taxis by 2030, according to a report from the China Low Altitude Economic Alliance. The alliance predicts that large-scale commercialization of eVTOLs will lower costs and make them more accessible. In the next two to three years, major Chinese cities are expected to complete air transport networks and supporting ground services for low-altitude vehicles. The report also emphasizes the growing role of drones in logistics, agriculture, emergency rescue, urban management, and tourism.
💡The alliance, established in August, aims to drive the development of low-altitude airspace and industry planning.
Marine
Global
Meta has signed a carbon offset agreement with Danish shipping company Norden to acquire emission reduction credits. The deal involves burning biofuel on a Norden vessel, with the resulting emissions reductions allocated to Meta through a book and claim system. This solution allows Meta to benefit from biofuel-driven emission reductions, even when biofuels aren't available on specific routes. The reductions are verified by Normec Verifavia and recorded through 123Carbon.
💡The partnership is part of Meta's broader strategy to decarbonize its value chain, including investments in carbon removal projects and direct air capture technology for its data centers.
Global
The Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping (MMMCZCS) and RMI have introduced Katalist, a not-for-profit book-and-claim registry to support maritime industry decarbonization. The platform links shipping companies using low-emission fuels with cargo owners seeking sustainable supply chains.
Using a book-and-claim model, Katalist separates sustainability benefits from physical fuel use, enabling cargo owners to claim environmental benefits even without direct fuel usage. The platform offers transparent, auditable data and connects carriers with a broader market, simplifying the sale of green shipping services.
💡 Katalist is developed with the Energy Web Foundation and over 25 industry stakeholders, ensuring robust criteria for emissions savings. It aims to foster scalable investments in low-emission fuels and has already attracted attention from initiatives like the Zero Emission Maritime Buyers Alliance (ZEMBA), set to use Katalist for sustainable marine fuel tokens from 2025.
Singapore
Strategic Marine, a Singapore-based company, has secured a contract with South Korea's Yeosu Ocean to build a StratCat 27 crew transfer vessel (CTV) for the country’s growing offshore wind market. Designed in collaboration with BMT, the hybrid-ready vessel will be customized for Korean conditions, featuring specialized electrical components and layouts.
💡 The CTV will accommodate 24 passengers and 3 crew members.
South Korea
HMM, in partnership with HJ Shipbuilding & Construction, celebrated the naming of its first two LNG-fueled containerships, HMM Ocean and HMM Sky, at a ceremony in Busan on November 21. The 7,700 TEU vessels, set to enter service in January 2025, will operate on HMM’s Far East-India-Mediterranean route. These vessels are the first LNG-powered ships for both HMM and South Korea. The ships are part of a $240 million contract with Greece’s Navios Maritime Partners and a long-term charter agreement.
💡HMM’s eco-friendly initiative also includes orders for nine methanol-powered ships, with over $10 billion to be invested in sustainability.
China
China is preparing to introduce its first export quota for marine bunker fuel blended with biodiesel, with a potential quota of 500,000 metric tons. The move is aimed at supporting the country’s biodiesel producers, who were impacted by European Union anti-dumping tariffs imposed in August. The quotas are expected to go to state oil firms CNPC, Sinopec, and CNOOC. The B24 marine fuel blend, consisting of 24% biodiesel and 76% low-sulphur fuel oil, is seen as a way to boost China’s marine biofuel sales, particularly at ports like Zhoushan, and provide carbon credits for ships operating between China and the EU.
💡The quotas may be issued by the end of the year or early next year.
China
Norsepower has opened the world’s first dedicated rotor sail factory in Dafeng, China, set to produce 50 rotor sails annually, with plans to expand to 100 by 2027.
💡The facility combines Finnish and Chinese expertise to meet the growing demand for sustainable maritime technologies, targeting the €60 billion wind propulsion market.
Space
China
According to Space News, China successfully tested an inflatable expandable module in orbit during its Shijian-19 mission, marking a significant advancement in space technology. The Shijian-19 spacecraft, launched on September 27 aboard a Long March 2D rocket and retrieved on October 10, carried the small inflatable module designed by the China Academy of Space Technology (CAST).
The module, made of flexible composite materials, demonstrated efficient lightweight and compact design features, inflating upon deployment in orbit. CAST views this technology as a key step toward large-scale space structures, with potential applications for deep space exploration and orbital habitats.
💡The Shijian-19 mission, a short-duration test platform, also carried payloads for crop irradiation experiments, microbial studies, and space technology tests. Its retrievable design complements China’s space capabilities, enabling microgravity research and recoverable experiments. The test aligns with China's plans to expand the Tiangong space station, potentially incorporating inflatable modules in future orbital operations.
Japan
An engine for Japan’s Epsilon S small rocket exploded during a combustion test at the Tanegashima Space Center on November 26, marking the second such incident in 16 months. The explosion occurred 49 seconds after ignition, with no injuries or external damage reported.
The Japan Aerospace Exploration Agency (JAXA) stated that combustion pressure exceeded expectations and promised to investigate the cause. The test was for a second-stage engine measuring 3.2 meters long and holding 18 tons of solid fuel, designed to enhance the Epsilon series’ capabilities.
💡The setback casts uncertainty over the planned launch of an Epsilon rocket carrying a Vietnamese satellite by March 2025. A similar explosion in July 2023 had already raised concerns about the reliability of the engine, potentially slowing progress on the Epsilon S program.
India
India is aiming to build a moon-orbiting space station by 2040 as part of its long-term vision for human presence beyond Earth orbit. The station will support crewed lunar missions and scientific research, aligning with plans for India’s first crewed moon landing and a permanent lunar base by 2050, according to local reports.
💡The project represents the third phase of India's lunar exploration strategy, following robotic missions like the upcoming Chandrayaan-4 sample-return mission.
**Nothing in this article is intended to be or should be construed as legal or financial advice.**