President Vladimir Putin on Thursday urged the development of Russia's satellite grouping and the strengthening of Russia's position on space launch market as immediate priorities for the country's space industry.

Putin also prioritized the strengthening of Russia's position on the markets of piloted and commercial space launches.

"First of all, we must strengthen the Russian satellite grouping, focusing on accomplishing practical tasks in such important areas as satellite communications and remote earth sensing," Putin said at a meeting with space industry officials on prospects of Russia's space program until 2025.

"Russian rockets must be reliable and competitive, meet requirements of leading domestic and foreign customers," the president stressed.

Putin stressed the development and equipment of the International Space Stations with the newest technologies should be a priority for the Russian Federal Space Program.

Fundamental space exploration should also be prioritized, the president said. According to the Russian space agency Roscosmos, the Federal Space Program will have a budget of roughly $37 billion to last through 2025.