International Lunar Research Station (ILRS)
ILRS is the China-Russia–led international lunar base initiative, announced jointly by CNSA and Roscosmos in a March 9, 2021 memorandum of understanding and progressively expanded to include 13+ partner countries and 10+ international research organisations (Pakistan, Venezuela, Belarus, South Africa, Senegal, Egypt, Azerbaijan, Nicaragua, Thailand, Serbia, Kazakhstan, the Asia-Pacific Space Cooperation Organisation, the International Lunar Observatory Association, and others) [1][2][3]. Robotic phase (2026-2035) is built around Chang'e-6 / -7 / -8 and Russian Luna missions; crewed phase (post-2035) leverages China's 2030 crewed lunar landing programme; positioned as a multilateral counterweight to NASA Artemis Accords (67 nations as of May 2026) [4][5].
Funding & Contract Structure
Total committed: Total ILRS lifecycle cost not officially disclosed; individual contributing missions (Chang'e-6/7/8, Luna-26/27/28) are funded from existing national budgets rather than a consolidated ILRS line item. CSIS / SpaceNews analysts estimate cumulative China-Russia ILRS-aligned spend in the low-to-mid single-digit billions of USD-equivalent through the 2030 reconnaissance phase [12]
Annual run-rate: China's total civil space budget reached ~$14B equivalent in 2023; Russia's federal space budget was approximately ~$2-3B equivalent in 2024 — substantially constrained post-invasion. ILRS-aligned spend is a discrete but un-itemised slice inside each national envelope [11][13]
Per launch: No consolidated ILRS launch-cost disclosure; Chang'e mission unit costs estimated at $150-300M-equivalent per mission and Luna missions at $200-400M-equivalent per Western analyst estimates — no official disclosure [12]
Procurement vehicle: COST-PLUS — Government pays incurred costs plus a fee — contractor bears low risk; cost overruns common.
Congressional status: ILRS is embedded in China's 14th Five-Year Plan and forthcoming 15th FYP, in Russian Federal Space Programme 2016-2025 and successor framework; bilateral and multilateral MoUs have been signed at head-of-agency level. No public legislative opposition exists in either country [14]
GAO / CRS findings
| Date | Finding |
|---|---|
| USCC 2024 Annual Report assessed ILRS as a deliberate multilateral diplomatic counterweight to the Artemis Accords; recommended State Department and NASA monitor partner-country signing patterns and align global-South lunar diplomacy accordingly[15] | |
| NASA OIG IG-23-013 (September 2023) acknowledged the China-Russia ILRS programme as a parallel lunar architecture and recommended continued bilateral engagement with Artemis Accords partners to preserve U.S.-led rules-based framework leadership[16] |
Beneficiary Breakdown
| Contractor | Role | Share | Ticker |
|---|---|---|---|
| China National Space Administration (CNSA) | prime | Lead programme authority; coordinates Chang'e-6/7/8 mission alignment, hosts ILRSCO Secretariat in Hefei and signs bilateral MoUs with partner-country space agencies. Government entity.[1] | private |
| Roscosmos State Corporation (Russia) | prime | Co-lead programme authority; commits Luna-26 (orbiter), Luna-27 (south-polar lander) and Luna-28 (sample return) missions to the ILRS architecture; signed founding 2021 MoU and chartered ILRSCO in 2023. State corporation, not commercial.[9] | private |
| China Aerospace Science and Technology Corporation (CASC) | prime | Chinese state-owned enterprise prime contractor for Chang'e missions and ILRS infrastructure development; CAST and CALT subsidiaries build the mission hardware. Unlisted.[17] | private |
| NPO Lavochkin (Russia) | prime | Roscosmos subsidiary integrating Luna-25 (August 2023, crashed), Luna-26, Luna-27 and Luna-28 spacecraft; primary Russian lunar mission integrator. Unlisted state-owned enterprise.[9] | private |
| Asia-Pacific Space Cooperation Organisation (APSCO) | sub | Intergovernmental organisation (8 member states) acceded to ILRS as an institutional partner in October 2023; coordinates partner-country payload delivery and joint operations training.[7] | private |
| International Lunar Observatory Association (ILOA) | sub | U.S.-Hawaii-based non-profit; signed ILRS partnership agreement to deliver lunar-far-side astronomical observatory payloads. Not-for-profit.[8] | private |
Key Milestones
Founding MoU signed in St. Petersburg by CNSA Administrator Zhang Kejian and Roscosmos head Dmitry Rogozin — March 9, 2021
CNSA and Roscosmos jointly release the ILRS Guide for Partnership at GLEX 2021 in St. Petersburg
Russian Luna-25 lunar lander crashes on descent (August 19, 2023); first ILRS-aligned Russian mission ends in failure
ILRSCO (ILRS Cooperation Organisation) formally chartered by CNSA in Hefei, Anhui — standing multilateral secretariat
Chang'e-6 (first ILRS-aligned far-side sample return) launches successfully; returns 1,935.3 g of samples June 25, 2024
Multiple partner-country accessions through 2024: Pakistan (Apr), Belarus (Jun), Senegal (Jun), Nicaragua (Jan), Thailand (Apr), Serbia (Oct), Kazakhstan (Nov)
Chang'e-7 launch — first dedicated ILRS Phase I south-polar reconnaissance mission
Russian Luna-27 south-polar lander launch (subject to Roscosmos schedule)
Chang'e-8 ISRU demonstrator — 3D-printed lunar regolith brick experiment at the lunar south pole
ILRS Phase I — Reconnaissance — completion target; transition into Phase II construction
ILRS Phase II construction completion; transition into Phase III crewed operations supported by Chinese Crewed Lunar Programme
Catalysts
| Date | Event | Sentiment |
|---|---|---|
| Chang'e-7 launch — first ILRS-aligned south-polar reconnaissance mission with orbiter, lander, rover and mini-hopper[4] | bullish | |
| Luna-27 — Russian south-polar lander launch (delayed from earlier targets) carrying European-built PILOT-D drill subsystem and ground-penetrating radar[9] | neutral | |
| Further ILRSCO membership expansion — additional global-South and BRICS-aligned signatories expected in 2026-2027 cycle[2] | bullish | |
| Chang'e-8 — ISRU demonstrator at the lunar south pole; first ILRS-aligned in-situ resource utilisation experiment (3D-printed regolith brick)[4] | bullish | |
| Phase II ILRS construction — precursor base modules, power, communications and habitation experiments; partner-country payloads start arriving[3] | bullish | |
| Crewed Phase III — Chinese taikonaut visits to the ILRS site via the Chinese Crewed Lunar Programme (LM-10 / Mengzhou / Lanyue)[5] | bullish |
Risk Register
Competitive Landscape
Investability Map
| Ticker | Exposure | Note |
|---|---|---|
| N/A | low | No publicly listed pure-play ILRS exposure — CNSA, Roscosmos, CASC and NPO Lavochkin are government or unlisted state-owned entities. Public-equity investors cannot directly capture ILRS upside. |
| SHA: 600118 | low | China Spacesat Co. (CASC-affiliated, Shanghai-listed satellite developer) provides limited indirect Chinese state-space exposure; ILRS content is minor. |
| SHA: 600879 | low | Aerospace Hi-tech Holding (CASC-affiliated, Shanghai-listed) provides ancillary Chinese space-industrial exposure; not ILRS-specific. |
| N/A | low | CASC and Roscosmos subsidiaries are on or adjacent to U.S. entity-list / NS-CMIC / OFAC sanctions; most Western institutional investment mandates cannot hold the relevant securities regardless of fundamentals. |
Not investment advice. Figures as-quoted from cited sources.
Sources
- [1] CNSA — International Lunar Research Station official English portal (Agency budget doc, accessed )
- [2] SpaceNews — ILRS partner-country expansion tracker (Andrew Jones, 2023-2024) (GAO / CRS report, accessed )
- [3] Xinhua — ILRS Cooperation Organisation (ILRSCO) formally chartered by CNSA in Hefei (October 2023) (Agency press / Congressional record, accessed )
- [4] SpaceNews — Chang'e-7 / Chang'e-8 alignment with ILRS robotic phase (Andrew Jones) (GAO / CRS report, accessed )
- [5] SpaceNews — ILRS Phase III crewed operations post-2035 (Andrew Jones) (GAO / CRS report, accessed )
- [6] Roscosmos — Joint China-Russia ILRS Guide for Partnership (GLEX 2021) (Agency budget doc, accessed )
- [7] SpaceNews — APSCO joins ILRS as institutional partner (October 2023) (GAO / CRS report, accessed )
- [8] International Lunar Observatory Association (ILOA) — ILRS partnership agreement (Official company site, accessed )
- [9] SpaceNews — Russian Luna programme status: Luna-25 crash and Luna-26 / -27 / -28 schedule (GAO / CRS report, accessed )
- [10] Xinhua — Crewed lunar landing target before 2030 (CMSA, July 12, 2023) (Agency press / Congressional record, accessed )
- [11] CSIS ChinaPower — China's Space Programme assessment (GAO / CRS report, accessed )
- [12] Ars Technica — Cost trajectory of ILRS vs. Artemis Accords (Eric Berger) (GAO / CRS report, accessed )
- [13] Ars Technica — Russia's federal space budget under post-invasion sanctions and Roscosmos delivery risk (GAO / CRS report, accessed )
- [14] Xinhua — 14th Five-Year Plan and forthcoming 15th FYP lunar exploration priorities (Agency press / Congressional record, accessed )
- [15] U.S.-China Economic and Security Review Commission (USCC) — 2024 Annual Report (ILRS as Artemis-Accords counterweight) (GAO / CRS report, accessed )
- [16] NASA OIG IG-23-013 — NASA's International Partnerships in the Artemis Campaign (September 2023) (GAO / CRS report, accessed )
- [17] CASC (China Aerospace Science and Technology Corporation) — corporate English portal (Official company site, accessed )