Make In India

Space Sector Overview

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India's Space sector, valued at ₹1.5 trillion in 2023-24, has emerged as a global leader in satellite launches, space exploration, and space technology. The sector is experiencing rapid growth, with India becoming one of the leading players in the global space economy. India’s space industry is set to expand with plans for new satellite systems, human space missions, and commercial space ventures.

Why Invest in the Space Sector

  • Growing Global Demand: India’s space technology and satellite services are in high demand globally, offering potential for both commercial opportunities and international collaborations.
  • Government Support: The government has set ambitious targets, including sending humans to space and increasing satellite launches, which offer significant growth prospects.
  • Private Sector Involvement: The sector is attracting private investments, with companies like ISRO and NewSpace India Ltd. collaborating with startups for satellite and launch vehicle production.

Incentives & Schemes

  • IN-SPACe: Established to promote private sector participation in space activities, including satellite launches and space exploration.
  • PLI Scheme for Space:: Incentives for the manufacturing of space components, satellite equipment, and launch vehicle systems.
  • Gaganyaan Mission: India’s human spaceflight program, aimed at launching its first crewed mission in 2024.

Highlights

  • Satellite Launches: India is known for its low-cost satellite launches, with ISRO launching 375+ satellites since 2008.
  • Space Exploration: India has undertaken successful missions like Chandrayaan and Mangalyaan, strengthening its position in space exploration.
  • Commercial Growth: The Indian space economy is expected to grow to $13 billion by 2025, driven by satellite-based services, launch services, and exploration.

Space Sector Data

Category Details
Market Size (2023-24) ₹1.5 trillion
Satellite Launches 375+ satellites launched by ISRO since 2008
Commercial Space Economy Size Expected to reach $13 billion by 2025
Gaganyaan Mission India’s first crewed mission to space scheduled for 2024
PLI Scheme for Space Incentives for manufacturing space components and satellite systems
ISRO Launch Frequency 10-12 satellite launches annually
Global Space Market Share India holds a 2.5% global market share in space services
Space Employment Over 1.5 million people employed in the space sector
FDI in Space Sector Over $3 billion in cumulative FDI in space infrastructure and services
Space Exploration Successes Successful missions like Chandrayaan, Mangalyaan, and Mars Orbiter Mission

Latest Figures and Progress

  • FDI: India’s space sector has attracted over $3 billion in FDI, demonstrating international interest in its growing space capabilities.
  • Market Size: The space sector is valued at ₹1.5 trillion in 2023-24 and is expected to see rapid growth as the country enhances its satellite, exploration, and commercial capabilities.

India’s Space sector is on a trajectory of sustained growth with strong government backing, private sector involvement, and a strategic focus on space exploration and technology, making it a compelling investment opportunity.