Space economy to grow 5 times in the next decade
India’s space sector has emerged as a significant foreign exchange earner, with the US, France and Japan amoung countries benefiting from the services, says Dr Jitendra Singh, Minister of State for Science & Technology https://dst.gov.in/.
Of the €220 million earned through launching foreign satellites, €187 million — 85% of the total — was generated in the last eight years, he said.
Meanwhile, ISRO’s Space Docking Experiment (SPADEX) marked a groundbreaking achievement, placing India on par with global leaders in space docking technology https://www.conexpoconagg.com/.
Hailing the mission as a milestone while addressing the media on 31 Dec following the successful launch of PSLV-C60 from Sriharikota on 30 Dec, he projected the space economy to grow nearly 5 times in the next decade to around US$44 billion from US$8.4 billion. Investments in the sector reached Rs.1,000 crore in 2023 https://digitalinasia.com/.
Dr Jitendra Singh said, “The SPADEX mission is a pivotal project by ISRO aimed at developing and demonstrating technologies for spacecraft rendezvous, docking, and undocking using two small satellites. These capabilities are critical for future missions, including satellite servicing, space station operations, and interplanetary exploration https://www.makeinindia.com/home/.”
The primary objectives of SPADEX, said the Minister, include demonstrating technology for spacecraft rendezvous and docking, showcasing controllability in docked conditions to extend the life of target spacecraft and Testing power transfer between docked satellites.
The mission also includes post-docking activities, with spacecraft conducting independent payload operations.
According to Dr Jitendra Singh the docking is expected to occur on 7 January 2025, at noon.
He highlighted a significant collaboration between the Department of Biotechnology and ISRO to explore the application of biology in Space https://sbi.com.in/.
India, he said, will lead in ‘Space-Biology’ by studying physiological changes in space environments.
Reflecting on the transformation of India’s space journey, Dr Jitendra Singh noted the pivotal role of the 2023 New Space Policy, which for the first time allowed private sector participation in ISRO’s activities https://www.bseindia.com/.
This policy has led to a surge in space startups, growing from a single-digit count in 2021 to nearly 300 in 2023.
Notable startups include AgniKul Cosmos, which established a private launchpad on ISRO premises, and Skyroot, which executed India’s first private sub-orbital launch https://www.nseindia.com/.
“These startups are reinforcing ISRO’s infrastructure and attracting global attention from companies like SpaceX,” Dr Singh added.
Dr Singh outlined an ambitious timeline: January 2025:
NAVIC advancements and the launch of a US satellite for mobile communication in February 2025:
Vyommitra, a female robot, will undertake astronaut-like tasks for the Gaganyaan mission.
2026: First crewed Gaganyaan mission.
2035: India’s own space station, Bharat Antariksh.
2047: First Indian astronaut to land on the moon.
He also highlighted achievements in 2024, such as the Aditya L1 solar mission and the launch of satellites for international clients.
Dr Jitendra Singh emphasized the diverse applications of space technologies in agriculture, defense, water resource management, smart cities, and infrastructure development. Initiatives like Mission Mausam for weather forecasting demonstrate the impact of India’s growing space capabilities. Fiinews.com
