Importance The article analyzes the global space market in 2015, its segments and the position of the Western and Russian leading producers of aerospace equipment in different segments. Objectives The research is confined to increasing the cost effectiveness of the Russian aerospace industry. The cost effectiveness can be improved through the structural combination of global aerospace leaders to form 3 to 5 business segments competing in several markets (not necessarily aerospace) at a time. Methods The research constitutes a comparative analysis of leading foreign and Russian companies developing and manufacturing aerospace equipment. The article sums up results and provides recommendations. Results As the analysis shows, the Russian aerospace companies opted for a conventional way by setting up the United Rocket and Space Corporation, i.e. a mere aggregation of assets. In the mean time, limited financial resources, domestic market needs in various high-tech products urges the Russian aerospace companies to search for more flexible cooperation formats typical of the Western aerospace companies. Conclusions and Relevance Considering the growing competition in the global aerospace market, it is necessary to find optimal integration forms as part of both united corporations and separate business segments, and develop the domestic competition.