The INDUSTRY
The Space Industry is emerging as one of the most lucrative industry globally. The Space Industry, is valued at US$ 360 billion in 2018, is projected grow at a CAGR of 5.6%, to value US$ 558 billion by 2026.
The United States is the largest spender in the domain with China, European Union, India, Russia, Japan and South Korea anticipated accounting for the bulk of spending.
India's share is estimated to be about 2% of the global market covering broadband and Direct to Home (DTH) television, satellite imagery and navigation.
MILITARY SPACE INDUSTRY
Space in increasingly being militarised with three quarters of all satellites launched by space agencies going khaki - to act as the eyes ears and voice of modern military commander.
In such a scenario systems such as the Anti-Satellite weapon that India tested last year in March can become relevant. This system can attach low orbiting satellites used for used for reconnaissance and surveillance.
With this India joined the elite group of nations - the US, Russia and China.
CHALLENGES FOR INDIA
However compared to the other space-faring nations India (specifically ISRO - the Indian Space Research Organisation) faces a following challenges
A. To maintain its credentials as a dependable international partner in developing civilian space applications and launching satellites.
B. To supply the armed forces with space warfare systems and technologies.
This is a fine line which ISRO must tread.
Developments in Artificial Intelligence and Big Data Analytics has led to the emergence of New Space.
- New Space Enterpreneurship has emerged in India with many start-ups seeking values in exploring end to end services in B to B and B to C space.
- These need an enabling eco-system, culture of accelerators, incubators, venture capitalists and mentors - some of which exists in Bangalore - which is where most start-ups have mushroomed.
The FUTURE
The future is now in nano-satellites (small satellites) and to develop a "constellation" of satellites. This is much better than launching a large satellite. If one nano satellite malfunctions the others are still working where that is not the case with a large satelite.
Globally 17000 small satellites are expected to be launched between now and 2030.
ISRO is developing a small satelite launch vehicle, which along with PSLV (Polar Satelite Launch Vehicle) is to be farmed out to the private sector.
In this context the Assembly, Integration and Testing role - which is restricted to ISRO must be outsourced (to private sector)
Further there is a growing need for a national legislation for the overall growth of the Indian Space Sector. A new space law for India should aim at facilitating growing India's share of global space economy to 10% in the coming decade.
The Govt. now has the opportunity to give priority to a new bill (a new law) that can be welcomed by both larger players, start-ups and private sector and grow this sector - so very important for India.
