We are all well aware how innovative and successful ISRO has been throughout the years launching and constantly working on so many groundbreaking missions and making rapid strides in the space industry.
I was recently talking to a friend who works in this industry and was intrigued by the developments happening on that front. Here are some of the basic yet very interesting data points and information that I compiled :
The Global Space Sector is worth 440 Billion Dollars and you would be kind of negatively surprised to know that India has only 2% share in this
The Sector employees 45000 people.
India’s total investment in the start-up ecosystem in the space sector is about $22 million, which is less than 0.5 per cent of global investment.
Antrix Corporation expects the industry to grow up to $50 billion by 2024 if provided with appropriate policy support.
What has Changed in the last 18 Months?
Recognising the opportunity and potential that Indian space industry has, The Government, in 2020, has announced The Draft National Space Transportation Policy-2020 which allows private players to participate in the journey of India’s growth in the global space industry.
The Industy is at a nascent stage and the potential to grow is incredible. Let us use this thread to track and keep an eye on all the interesting updates and companies working in this sector.
Check out Skyroot Aerospace. There is a view that public money spent on the space sector is unwarranted. Hence opening up the sector to private players is a good thing.
I work with companies in this sector, the private space is very promising. Lot of contact-based jobs for manufacturing are outsourced by ISRO & HAL to the private space. L&T & Godrej are a few key players followed by TATA & Mahindra aerospace divisions.
Through the Rainmatter Foundation, we have been supporting teams working to solve climate change. Various research reports suggest how Space Technology will be critical to measuring and providing accurate data on a bunch of requirements. A nice summary here.
Which is why we are supporting,
Agnikul - Agnikul is democratising access to space for the small satellite market, which is largely underserved globally.
GalaxyEye - GalaxyEye is enhancing imagery and data collection, which can help policymakers and other teams working on climate change and other related areas.
