Martian Moons eXploration (MMX)
Japan's attempt to be first to bring material back from the Martian system — landing on Phobos, scooping at least ten grams, and returning it to Earth in 2031.
Funding & Contract Structure
Total committed: Not disclosed — JAXA does not publish an MMX life-cycle cost figure
Annual run-rate: Not disclosed — funded within ISAS's science programme, no discrete public line
Procurement vehicle: COST-PLUS — Government pays incurred costs plus a fee — contractor bears low risk; cost overruns common.
Congressional status: National programme funded within JAXA's annual budget; international partner contributions are in-kind, not priced subcontracts
Beneficiary Breakdown
| Contractor | Role | Share | Ticker |
|---|---|---|---|
| Mitsubishi Heavy Industries | supplier | H3 launch vehicle[1] | private |
| CNES | supplier | IDEFIX rover (joint with DLR); MIRS spectrometer co-development[0] | private |
Key Milestones
H3 Flight 8 fails (22 Dec), QZS-5 lost; JAXA task force stood up
MMX spacecraft delivered to Tanegashima Space Center (31 March)
H3 failure root cause identified as a manufacturing defect, clearing return to flight
Launch on H3 from Tanegashima (Nov-Dec window)
Sample Return Capsule returns to Earth (JFY2031)
Catalysts
| Date | Event | Sentiment |
|---|---|---|
| Spacecraft delivered to Tanegashima — hardware complete, no longer a development risk[1] | bullish | |
| H3 failure root cause identified and confined to a manufacturing defect rather than a design flaw[1] | bullish |
Risk Register
Competitive Landscape
Sources
- [0] JAXA — MMX official mission site (Agency budget doc, accessed )
- [1] JAXA — Launch Failure of the 8th H3 Launch Vehicle (Agency budget doc, accessed )