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Russia's Premier Space Manufacturer Sees Drop in Revenues This Year
By Vladimir Isachenkov
Associated Press Writer
posted: 10:22 am ET
27 December 2001
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MOSCOW (AP) -- Russia's largest space rocket manufacturer has seen its revenues plummet due to the shrinking number of commercial launches of Western satellites, but its director promised Thursday that the company would rebound next year. Alexander Medvedev, who heads the Khrunichev State Research and Production Center, said the company had found it harder this year to market its Proton booster -- the heavy-lift rocket capable of carrying communications satellites to high, geostationary orbits. "Our revenues have dropped this year," Medvedev said at a news conference. He refused to give any figures. Khrunichev has launched six Proton rockets this year, but only two of them have put Western satellites into orbit, Medvedev said. He added that another two commercial launches set for this fall had been postponed until early next year due to problems with satellites. Medvedev attributed the drop to the sluggish condition of the global market for commercial space launches, which fell from about the annual 60 launches several years ago to just 18 now. He said that despite the negative market trends, Khrunichev expects to carry out six Proton launches of commercial satellites next year, and launch four to six more Protons to put Russia's own military and civilian satellites into orbit. Khrunichev carries out commercial launches of Protons in a joint venture with U.S. Lockheed Martin company, called International Launch Services, that also markets American Atlas satellite launches. Khrunichev is by far the largest space company in Russia, and it has been the main cash cow for the beleaguered space industry, which is struggling to survive after generous state funding ground to a near-halt after the 1991 Soviet collapse. Russia receives tens of millions of dollars for each launch -- a coveted revenue source for the cash-strapped government. Medvedev refused to specify how much Russia earns from each Proton launch, saying it's a commercial secret. Khrunichev also built the Zarya, or Sunrise, the first module for the U.S.-led, 16-nation International Space Station, which was put into orbit by a Proton in November 1998. The company also helped build the station's pivotal main crew compartment, called Zvezda, which was launched last year. Khrunichev is now looking at the possibility of completing Zarya's backup, called by its Russian acronym FGB-2, and making it part of the station. Boeing has promised to help finish the module, which is 70-percent complete, but set certain conditions that the Russian government hasn't yet accepted, Medvedev said.
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