Russian President Vladimir Putin said on Thursday that the first module of the Russian Orbital Station could be launched into orbit by 2027, as the International Space Station's (ISS) resources are exhausted.

Speaking at a meeting with young scientists and space industry specialists, Putin said that Russia aims to build a complete station, not just a single segment.

"We want to avoid any gaps in our manned space program and work steadily as the ISS runs out of resources. We saw one of the segments today. It should be ready for launch by 2027," he said.

Putin said manned spaceflight is essential for advancing space and space-related fields.

"Everything must be done in a timely manner. If the financial groundwork is not made in a timely manner, and, therefore, technological and technical, a gap may arise in manned space exploration," he said.

Putin said the development of the station had to proceed "all in good time" or the Russian program risked falling behind in terms of the development of manned space flight.

The new station, he said, had to "consider all advanced achievements of science and technology and have the potential to take on the tasks of the future."

In a meeting with space industry officials, Putin also vowed to proceed with Russia's first moonshot in 47 years, Russian news agencies reported.

(With input from agencies)