ISRO's Success and private sector prowess can go hand in hand to make India a superpower in space

The resounding success of Chandrayaan-3's launch has once again underscored the Indian Space Research Organisation's (ISRO) prowess in space exploration, propelling India's cosmic aspirations to new heights.

The mission also highlights the growing prominence of the private space sector in India, with companies like Ananth Technologies, Skyroot Aerospace and Dhruva Space Pvt Ltd making noteworthy contributions. Ananth Technologies, based in Hyderabad, has played a pivotal role in the Chandrayaan-3 mission, providing essential components like power-switching modules and navigation systems. Similarly, Hyderabad-based companies, Skyroot Aerospace and Dhruva Space Pvt Ltd, have left their mark in the space sector. Skyroot's Vikram-S rocket, launched last November, disrupted the government's long standing monopoly, paving the way for private players' entry in the space market. The global space industry, currently valued at over $500 billion, is dominated by heavy spenders like the United States and China.

Despite India's presence in the global space market since the 1960s, its current share stands at a modest 2%, approximately $9.6 billion. However, the country has set an ambitious target of reaching $12.8 billion by 2025. The projection for the global space launch services market, estimated to double to $31.9 billion by 2029, indicates the sector's rapid growth potential. With the space sector offering vast opportunities, India must foster the right ecosystem to unlock its space potential fully. Companies like SpaceX, Blue Origin and Virgin Galactic have transformed the space sector landscape by reducing costs and turnaround times significantly.

In 2020, the formation of the Indian National Space Promotion and Authorization Center helped bridge the gap between ISRO and the private sector, while relaxed regulations further encouraged private players to enter the market. India's focus on nurturing innovation and entrepreneurship in the space sector has led to the rise of over 100 spacetech startups, raising more than $200 million in funding. According to Inc42, the opportunity in the spacetech startup ecosystem is projected to reach $77 billion by 2030. However, one challenge faced by private players is their lack of end-to-end capabilities, necessitating greater support from state governments and policymakers to enable their growth.

Telangana's government has already taken strides in positioning Hyderabad as India's spacetech capital by unveiling its Spacetech policy. This policy aims to create a conducive environment for startups and facilitate collaboration between various stakeholders, further bolstering the private space sector. ISRO's achievements extend beyond national borders, with successful missions like placing 36 UK-based OneWeb's internet satellites into orbit and signing the Artemis Accord, with a vision to land the first astronauts on Mars.

Collaborations with international players, such as NASA, are also in the works, including a joint mission to the International Space Agencies. Former ISRO scientist Nambi Narayanan's proposal to establish an Asian Space Agency, similar to the European Space Agency, emphasizes the need for collaborative efforts and shared resources to conduct larger space missions. Strengthening ISRO's capabilities and fostering an environment that nurtures innovators across the country will be crucial to realizing India's full potential in space exploration.

Chandrayaan-3's success has not only showcased ISRO's prowess but also highlighted the burgeoning role of private players in India's space sector. With the right ecosystem, support and collaborations, India has the potential to become a major player in the global space market, contributing significantly to space exploration and technological advancements. The future of India's space industry holds exciting possibilities, with opportunities for both the government and private players to work hand in hand and make space exploration the new frontier of scientific achievement.

(The writer is a researcher. The views expressed are personal)