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Space Economy of India

  • IASbaba
  • October 13, 2022
  • 0
Economics, Science and Technology
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Context: Indian space economy is set to reach $13 billion by 2025, according to a joint report prepared by EY and the Indian Space Association (ISpA), an apex industry association of space and satellite companies in the country.

Important points from the report:

  • The satellite launch services segment is set to witness the fastest growth spurred by increasing private participation.
  • The growing demand for smaller satellites is set to boost satellite manufacturing in the country and will attract global start-ups in the sector to help incubate space tech companies here.
  • In dollar terms, the satellite services and applications segment would be the largest with a turnover of USD 4.6 billion by 2025, followed by ground segment at USD 4 billion, satellite manufacturing at USD 3.2 billion and launch services at USD 1 billion.
  • Indian space launch is expected to get a boost due to the government’s positive step towards the inclusion of private players in the Indian space ecosystem.
  • The availability of low-cost satellite launch vehicles coupled with mass production will lead to demand from customers around the world.
  • Setting up space parks across the country is likely to give a fillip to companies operating across the space value chain, especially manufacturing.
  • Several companies are utilising cutting-edge technologies to develop innovative launch solutions in India and have built considerable expertise around the launch of LEO, MEO and GEO satellites and orbit management solutions.
  • Currently, India boasts of over 100 space tech start-ups with investments in the segment touching USD 68 million in 2021.

Source: The Hindu

Previous Year Question

Q.1) Which one of the following statements best reflects the idea behind the “Fractional Orbital Bombardment System” often talked about in media? (2022)

  1. A hypersonic missile is launched into space to counter the asteroid approaching the Earth and explode it in space.
  2. A spacecraft lands on another planet after making several orbital motions.
  3. A missile is put into a stable orbit around the Earth and deorbits over a target on the Earth.
  4. A spacecraft moves along a comet with the same surface. speed and places a probe on its

 

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