ExPace (Expace Technology / CASIC Rocket Technology)
Valuation
State-owned subsidiary of CASIC; cumulative external private capital ~$417M including $237M Series B (Jun 2022). Market valuation not disclosed
Employees
~1,000+ at the Wuhan industrial base (per CASIC group disclosures)
Current Status
ExPace remains the primary commercial launch provider inside the state-owned CASIC group, operating from a 68.8 sq-km dedicated industrial base in Wuhan. As of Apr 2026 the workhorse Kuaizhou-1A continues regular flights (over 30 missions, ~90% success), the heavier Kuaizhou-11 has resumed service after its 2020 failure, and CASIC has unveiled a five-year plan emphasizing reusable launchers and a spaceplane program.
Future Outlook
Near-term focus is scaling Kuaizhou-1A/11 cadence for state and commercial customers, while CASIC develops larger Kuaizhou-21/31 launchers and a reusable spaceplane targeted for late-decade flight. Reusability remains ExPace's principal strategic gap versus newer private rivals like LandSpace and CAS Space.
Key Products
Recent Milestones
Kuaizhou-11 returned to flight successfully after the 2020 maiden-flight failure
Dec 2022
Kuaizhou-11 Y2 successfully launched four satellites to sun-synchronous orbit
May 2024
Kuaizhou-1A Pro launched Pakistan's PRSC-EO2 remote-sensing satellite — the 30th Kuaizhou-1A mission
Jul 2025
Kuaizhou-1A successfully orbited two Traffic VDES satellites, demonstrating continued tempo
Dec 2025
CASIC publicly outlined a five-year plan covering Kuaizhou upgrades and a reusable commercial spaceplane
2025