Vietnam's VinSpace has signed a contract with SpaceX to launch its first satellites on a Transporter rideshare mission in 2027, as the Vingroup subsidiary seeks to build a full-service aerospace business and Vietnam pursues its goal of becoming a mid-level space power by 2030.
Vietnam's VinSpace has signed a contract with SpaceX to place its first satellites into orbit aboard a SpaceX Transporter rideshare mission in 2027, the company said Tuesday, marking a significant step for the Southeast Asian nation's ambitions in the global space industry.
The rideshare arrangement allows VinSpace to share launch costs with other customers on a single rocket — a common entry point for emerging satellite operators. The satellites, which VinSpace said it will develop and operate independently, are intended to validate the company's technology in orbit and lay the groundwork for future commercial applications.
VinSpace did not disclose the value of the contract, the number of satellites involved, or their technical specifications.
The company was established in November 2025 as part of Vingroup, Vietnam's largest privately owned conglomerate, founded by tycoon Pham Nhat Vuong. Vingroup's holdings span real estate, retail, healthcare, education, and tourism, and it has been expanding into high-tech sectors including electric vehicles, space, artificial intelligence, and robotics — industries central to Vietnam's broader ambition to become what officials describe as Asia's next tiger economy.
VinSpace telegraphed the 2027 satellite launch timeline as early as April, and Tuesday's announcement formalizes the SpaceX partnership that will make it possible.
"Reliable access to space is fundamental to turning satellite innovation into operational missions," VinSpace CEO Thu Vu said in a statement.
The agreement arrives as Vietnam works to accelerate a space program that has developed slowly over several decades. The country launched its first telecommunications satellite in 2008, followed by a second in 2012. In March, it opened a major space science and technology center in Hanoi's Hoa Lac High-Tech Park, focused on satellite development and the use of space-based data. Vietnam's stated goal is to become a mid-level space power in Southeast Asia by 2030.
The SpaceX relationship extends beyond this launch contract. In February, Vietnam authorized SpaceX to operate its Starlink satellite internet service within the country — a move some analysts characterized as an effort by Hanoi to soften the impact of U.S. tariffs. Starlink has since begun accepting customer orders in Vietnam.
VinSpace said the SpaceX deal fits within its longer-term plan to build out a full-service aerospace business, encompassing satellite design and manufacturing, launch management, satellite operations, and space-based data services.
The announcement comes as investor and government interest in commercial space is rising sharply. ICEYE co-founder and CEO Rafal Modrzewski told CNBC on Tuesday that Russia's full-scale invasion of Ukraine in 2022 was a "pivotal moment" for the space industry, accelerating a global push by governments — including those in Europe, Japan, India, and Brazil — to expand their satellite fleets. The market has "suddenly tenfolded in size," Modrzewski said.
European nations' spending on space rose 12% to 13.5 billion euros in 2025, driven largely by increased national defense budgets, according to a European Space Agency report published last month.
For VinSpace, the 2027 rideshare mission represents a first, concrete foothold in orbit — one that will test both the company's hardware and its capacity to deliver on Vietnam's broader space ambitions.
Sara Montes de Oca is the Editor in Chief of TechEchelon. Previously a correspondent and producer in Washington, D.C., covering business, finance, and politics.
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