A decision by Dauria Aerospace to cut back on its international activity is “completely expected,” Skolkovo vice president and space cluster executive director Alexey Belyakov told sk.ru.

“In a climate of sharply constricting financial markets, Dauria needs to focus its resources on the more promising and natural areas of business – where it can make a return quickly,” Belyakov said.

Skolkovo VP Alexey Belyakov. Photo: sk.ru

Dauria Aerospace, Russia’s first private satellite maker, is a partner company of the Skolkovo Foundation and its subsidiary Dauria Satellite Systems is a resident of the space cluster.

Dauria Aerospace founder Mikhail Kokorich told the TASS news agency this week that an inability to secure financing in the face of global political turmoil has made Dauria uncompetitive in the West.

“The European and American sides [of the business] are slowly winding down and will soon practically cease to function,” the agency quoted Kokorich as saying.

But the company has a big enough order portfolio to remain positive about the future.

“That helps us to look the future with optimism,” Kokorich said. “Especially with the devaluation of the ruble and the lowering of costs compared to foreign players.”

Kokorich said he hoped to run a successful export business out of Russia. 

Dauria Aerospace sent Russia into the new space economy of private commercial operations last year with the launch of two communications satellites.

It was named by SpaceNews magazine as one of the world’s top seven commercial operators by order volume in 2014.