Russia is planning a new $14bn space centre in the Far Eastern Amur Region.
RKK Energia head Vitaly Lopota, quoted by Ria Novosti, said that Russia only had 0.5% of the market, but when the Vostochny space centre is built, it would have at least 10% of the market.
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The centre would enable Russia to launch manned spacecraft independently without having to lease launch facilities in other nations such as the Baikonur spacedrome in Kazakhstan.
Russia aims to preserve its status as a space power and boost its defence capability.
Vostochny expects to launch its first satellite in 2015 and first piloted spacecraft in 2018.
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By GlobalData
