India Aims for Leadership in the Commercial Space Market
India is targeting a larger share of the commercial space industry by focusing on affordable satellite launches and data services. Rather than competing directly with giants like SpaceX, India is using its strengths in space data analysis and small satellite development. This approach offers cost-effective solutions for sectors such as communications, agriculture, and commodities.
India’s Strategic Approach to Space Ventures
India’s plan emphasizes affordable satellite launches and high-quality space data. The global launch market is projected to reach $14.54 billion by 2031, while the data services market is expected to grow to $45 billion by 2030. AK Bhatt, director general of the Indian Space Association, noted, “The world has moved from satellites the size of a Boeing plane to the size of a laptop. This is a sector India can win.”
Boosting Private Sector Participation in India
India has opened its space sector to private companies, setting up a ₹10 billion ($119 million) venture fund to support space startups. Though India has ambitious plans for crewed space missions and a mission to Venus, the focus remains on commercial ventures. However, competition from Japan and China, advancing in small satellite launches, poses a challenge.
Namrata Goswami, a space policy expert, pointed out the difficulties: “Space is tricky and very competitive.” She stressed that government support as an anchor customer is essential for helping India’s private space industry thrive.
Expanding Satellite Data Applications
Much of the expected growth will come from downstream applications, which use satellite data to improve industries like agriculture and telecommunications. Pawan Goenka, chairman of IN-SPACe, India’s space regulatory body, emphasized that downstream applications will drive much of the industry’s revenue. Indian companies are already making progress by building small satellites and developing satellite components.
For example, Bengaluru-based SatSure is working with the Airports Authority of India to enhance air traffic management through real-time satellite data. This project could save ₹37.5 billion ($446 million) in fuel costs by 2025 and cut airport planning times by 70%. SatSure’s CEO, Prateep Basu, explained that Earth observation satellites could offer similar benefits to other industries.
Increased Private Sector Involvement
India’s space sector has attracted significant investment, with companies like Bellatrix Aerospace, Pixxel, and Dhruva Space leading the charge. Startups are partnering with global organizations, including NASA, and securing contracts with firms like HDFC Bank and Syngenta. Dhruva Space also received a permit to operate satellite communication centers on Earth, previously controlled by ISRO.
Aravind Ravichandran, founder of Terrawatch Space, highlighted India’s advantage: “India is a software powerhouse, and the space downstream market is, ultimately, a software play.”
Although India currently holds just 2% of the commercial space market, experts believe the country can expand its presence across South Asia and globally, further strengthening its position in the global space race.