The Japan Aerospace Exploration Agency (JAXA) and IHI Aerospace has reached an agreement for the Epsilon S rocket.

As part of this agreement, JAXA plans to go ahead with the development of the rocket and the launch transportation service.

The agreement will also see the construction of a system capable of using the Epsilon S rocket for independently launching transportation service business.

It includes maintaining and forming the industrial base and changing the space transportation system into an independent and sustainable business structure.

JAXA chairman Yamakawa said: “Today, we have signed a basic agreement with IHI Aerospace president Makino on the development and operation of the internationally competitive Epsilon S rocket.

“In the satellite launch market in recent years, the use of space business is rapidly expanding due to technological advances in miniaturisation and integration, and there are many market trends in which launch demand for satellites with extremely diverse mass, size, and applications is planned.

“With this Epsilon S rocket, while maintaining and developing the solid fuel rocket that has been used up to now, we will secure launch opportunities by actively capturing private demand in addition to public demand and develop independent launch transport services.”

Developed by JAXA, the Epsilon S rocket is designed to ensure expansion for launching multiple satellites.