Dauria Aerospace Withdrawing From United States, Europe

ITAR TASS reports that Dauria Aerospace, one of Russia’s few private space companies, will close its offices in the United States and Europe to focus on the Russian market.

“Currently, we focus on the Russian part of business and the export potential of space systems manufactured in the Russian subdivision of Dauria Aerospace,” Mikhail Kokorich said.

“The European and US parts [of business] are currently gradually scaling down up their activity and will practically halt their activity in the near future,” he said linking the plans to the uneasy political and economic situation in the world, which negatively affects the Russian company and its ability to attract financing.

He explained that the financing market for the companies with Russian shareholders has been closed and that’s why Dauria Aerospace cannot compete with foreign startups, many of which have received a large-scale funding.

“In these conditions, we have been forced to wind up the company’s foreign activity, as we can’t be equal rivals with the players who have secured more funding,” Kokorich said.

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