South Korean launch company INNOSPACE has signed a satellite launch service agreement with Tokyo-based aerospace trading company JALUX for a mission scheduled to fly on INNOSPACE’s HANBIT launch vehicle in 2028.
The agreement sets out what the companies described as a three-track partnership: a 2028 launch service contract, launch brokerage cooperation in Japan using JALUX’s local aerospace network, and a distribution arrangement aimed at creating an ongoing sales channel in the Japanese market.
INNOSPACE said the arrangement is intended to support its entry into Japan without establishing a local physical presence, by using JALUX as a distribution partner.
JALUX has pre-secured a launch slot for 2028 under the agreement. The company said it plans to identify satellite customers and commercialise the allocated launch capacity through what it described as a demand-driven model, with the partnership expected to strengthen the link between Japanese customer demand and launch services, while expanding INNOSPACE’s regional pipeline across Asia-Pacific.
“As JALUX’s first formal entry into the space launch service sector, this partnership with INNOSPACE marks a historic milestone in our 60-year history of aerospace excellence. By combining INNOSPACE’s innovative hybrid rocket technology with our extensive network and expertise in the aviation value chain, we are uniquely positioned to bridge the gap between satellite demand and launch availability all over the world. We are committed to providing reliable, customer-driven launch solutions and accelerating the expansion of the commercial space industry,” said Toshiaki Kasai, Representative Director & CEO of JALUX.
“The partnership with JALUX, a company with deep expertise and extensive networks in the aerospace sector, demonstrates that INNOSPACE’s technology is commercially competitive even in advanced space markets such as Japan,” said Soojong Kim, Founder and CEO of INNOSPACE. “In particular, securing customers in advance for the 2028 launch slot is particularly meaningful, as it provides a foundation for mid- to long-term growth.”
“Starting from this launch service agreement, we will expand cooperation into brokerage and distribution, strengthening our presence in Japan and further extending our launch service opportunities across the Asia-Pacific region.” He added.
The announcement comes as Japan’s space launch services market attracts increased attention from government initiatives and rising satellite demand. INNOSPACE cited market research firm MarkNtel projections that Japan’s space launch service market could grow from about USD 960 million in 2024 to USD 2.26 billion by 2030, a compound annual growth rate of more than 15%.
The company also pointed to Japan’s space strategy fund—described as approximately USD 6.5–7 billion over 10 years starting in 2023 and led by JAXA—as a factor expected to support private-sector innovation and increased demand for small satellite launches.
JALUX, part of the Japan Airlines Group, operates as a trading company focused on aerospace and airport-related businesses, including aircraft parts distribution, engine maintenance, repair and overhaul, and airport operations.
