As per the latest reports, India to take over China with a $447 billion space economy and reach a value of $600 billion by 2025. 3 dozen communications satellites for OneWeb were launched last month by the state-owned NewSpace India from an island off India’s eastern coast.
The decision not only salvaged the British satellite company’s bid to construct a worldwide broadband internet network in space, but it also signaled India’s aspirations in the industry.
The desire for high-speed internet offered from space has made satellite launch a profitable industry. India is squeezing its way into the highly lucrative space market, capitalizing on China and Russia’s geopolitical isolation to position itself as a trustworthy alternative to SpaceX.
Russia and China, together with Elon Musk’s SpaceX, have been the principal providers of satellite launches due to their long-running state space initiatives.
Nevertheless, as a result of the Ukrainian crisis and China’s concerns with the US, they have become off-limits to many prospective customers. As Russia sabotaged the initial launch last year, taking 36 of OneWeb’s spacecraft prisoner, the company went to India.
Meanwhile, France’s Arianespace has had challenges in making its newest rocket operational. In addition, following a failed launch in January, Virgin Orbit Holdings, the satellite-launch company associated with British billionaire Richard Branson, said this week that it would be ceasing operations indefinitely.
Several satellite operators are avoiding Chinese rockets, partially due to rising fears about Beijing gaining access to Western technology. In contrast, India has drawn closer to the US and other regional players, like Australia and Japan, and its launches are less expensive than those of competitors.
Expanding the space industry is a significant component of Prime Minister Narendra Modi’s “Make in India” strategy, which intends to establish India as a leading destination for technology developments.
NewSpace should assist India in competing on a global scale. NewSpace is speeding up the construction of the LVM3, India’s largest indigenously produced rocket.
In general, India’s industry is poised for rapid expansion. The government relaxed regulations for private sector satellite and rocket businesses in 2020, enabling them to conduct independent space activities. The value of India’s satellite launch services might almost double to $1 billion by 2025.
India is still behind China in many ways when it comes to space technology, but it is slowly and gradually catching up on a global level. Historically, India’s rockets have also had dependability concerns. But if the expert view of India to take over China with a $447 billion space economy is to be taken into account, India is doing well. The country is still a favorite alternative for low-cost launches.
Source: OneWeb
