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VinSpace, a subsidiary of Vietnamese conglomerate Vingroup, has signed a launch contract with SpaceX for its satellite missions, with the first launches planned for 2027. The satellites will be deployed through a SpaceX Transporter rideshare mission, allowing multiple customers to share the same launch. VinSpace is involved in satellite research, development, manufacturing and in-orbit operations. The company said the missions will support technology testing, satellite development, international cooperation and future commercial applications. Established with initial capital of INR equivalent to USD 11.4 million, VinSpace is part of Vingroup’s wider expansion into high-technology sectors.
VinSpace, a unit of Vietnamese conglomerate Vingroup, has signed a launch contract with SpaceX for its satellite missions, with the satellites scheduled to be launched in 2027.
The satellites will be carried on a SpaceX Transporter rideshare mission. Under this model, multiple customers can place their satellites on the same launch vehicle, allowing different payloads to be deployed during a shared mission.
VinSpace is responsible for the research, development and manufacturing of its satellites, as well as their operations once they are in orbit. The company said the SpaceX agreement forms part of its strategy to develop capabilities across the space value chain.
Its planned activities cover satellite design and manufacturing, assembly, integration and testing, launch management, in-orbit operations and data services. The company said the upcoming missions are expected to be used for testing technologies in orbit and developing satellite capabilities, while also supporting international collaboration and potential future commercial applications.
VinSpace was established in November last year with initial capital of 300 billion Vietnamese dong, equivalent to about USD 11.4 million. Vingroup founder Pham Nhat Vuong holds a majority stake in the company. Registration documents had earlier shown that Vuong held 71% of VinSpace, while Vingroup owned 19% and his two sons held the remaining 10%.
The company was set up with a broader business scope that includes aircraft and spacecraft manufacturing, telecommunications satellite operations, air cargo transportation and scientific research. Its formation marked Vingroup’s move into aerospace and space-related activities beyond its established businesses.
Vingroup has traditionally been associated with real estate and services but has expanded into industrial and technology businesses. Its current business structure includes areas such as industrials and technology, real estate and services, infrastructure and green energy.
The company’s entry into space also comes as Vietnam works to strengthen its domestic capabilities in satellite technology and space-based applications. The country has previously developed and launched satellites, while a space science centre in Hanoi was opened in 2026 to support satellite development and the use of space-related data. Vietnam has also allowed SpaceX to introduce its Starlink service in the country.
The planned VinSpace missions will therefore give the company an opportunity to test its satellite technologies in orbit while building experience in launch coordination, satellite operations and related services. The 2027 launch will also be an early test of the capabilities VinSpace has been developing since its establishment.
Source Reuters
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