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The Indian Space Association (ISpA), in collaboration with EY, has developed the report, titled “Developing the space ecosystem in India: focusing on inclusive growth“.
This report has compiled inputs from the industry and outcomes of the research on satellite space in India. The recommendations quoted through examples can guide the policy directives and hence provide deep insights needed for the decisions to be taken in the future. –Lieutenant General Anil Kumar Bhatt (Retd) PVSM, UYSM, AVSM, SM, VSM, Director General, ISpA
The report aptly concludes by underscoring the need for “a platform that promotes the development of the entire space ecosystem — design and manufacturing of satellites and payloads, launch vehicles and launch services, ground and space segments, space communications, satellite communication, space-based services, spectrum management and operations, space applications, navigation applications and navigation equipment design and supply — is the need of the hour”.
The revolutionary and out of box decision of PM Modi to unlock the Space sector for Private Industry in June, 2020 changed the very nature of Space ecosystem of the country.
Indian StartUps will soon launch Space satellites as well as satellite constellations and try their rockets.
Five PSLVs are being domestically produced by L&T and HAL, while OneWeb is all set to launch their satellites through ISRO and NSIL.
– Dr Jitendra Singh, Union Minister of State (Independent Charge) Ministry of Science and Technology, MoS PMO, Space and Atomic Energy, speaking at the India Space Conclave in Delhi on the occasion of first anniversary of the Indian Space Association, ISpA
The Report – Developing the space ecosystem in India: focusing on inclusive growth – lays emphasis on “Role of Private Equity (PE)/ Venture Capital (VC) firms” by stating they may serve the crucial requirement of investments in new infrastructure and R&D to make India a space manufacturing hub. In addition, startup incubators focused on the space domain can help to catapult the sector on the innovation domain. Currently, there are over 100 spacetech startups in India. The year 2021 was a watershed year for spacetech startups, with investments reaching US$68m, a y-o-y increase of 196%.
The report focuses on developing a holistic space ecosystem in India. It covers the outlook of the space economy in India and its potential to accelerate the socio-economic development of the country. It includes the global space economy and its growth drivers. From India’s standpoint, the report focuses on the entire lifecycle of the space economy, including manufacturing, ground and launch segment, startups and end-user services. This report also provides regulatory landscape and inputs from industry to propel growth in the Indian space industry.
The report is a compilation of industry inputs and secondary research. Members of ISpA have provided key inputs on the satellite space in India. The inputs have been backed by extensive research, analysis, and insights provided by EY. The report substantiates its recommendations through examples and prevalent practices for policymakers to consider.
The report points out, currently India boasts of over 100 spacetech startups. The year 2021 was a watershed year for spacetech startups, with investments reaching US$68m, a y-o-y increase of 196%.
The satellite services and application market in India will be driven by greater demand for high bandwidth and lower latency data requirements, connect the unconnected with voice and data communication services, and increase in IoT and autonomous systems. In addition, an increase in demand for military and defense satellite communication solutions is likely to spur the market forward. From an end-user industry perspective, media and entertainment to account for 26% of the total services market by 2025, followed by retail and enterprise at 21% and Defense at 20%. The remote sensing segment is expected to register one of the highest CAGR through 2025, driven by an increase in resolution of commercially available imagery and adoption of new-age technologies. – Prashant Singhal
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