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Have you ever looked into the night sky and wondered what it would be like to go to space? Lucky for you, an entire industry is working day and night to make this a reality. The global space industry has reached a record $469 billion in annual spending in 2021, the largest growth seen yet!
It comes as no surprise that countries across the world are investing in both military and civil space spending. One global name that immediately comes to mind while talking about the Space Sector is Elon Musk’s SpaceX. The company is coming up with a new internet service, called ‘Starshield’ which is devised for Government use.
Their aim is to cater to three areas: Imagery, Communications and “hosted payloads” (a module in the satellite that can be used by the Government as a flexible platform). With a busy road ahead, SpaceX will invest time and labour to build everything from ground antennas to satellites.
But what is India upto?
Despite only 2% of ISRO employees graduating from top-tier colleges like IIT or NIT, the organisation has been known to pull off some of the most promising low-budget missions. Moreover, India claims 2% of the global space market- building more satellites will increase India’s credibility in the global market.
India’s space economy is in a state of transition, driven by national policies. The central government will soon announce a National Space Policy that will allow private sector companies to manufacture satellite launch vehicles and speed up the pace of satellite manufacturing in India.
ISRO has also partnered with the private sector when it comes to manufacturing satellites and launch vehicles. With the new policy, ISRO intends to play the role of a mentor through technology transfers and allows private players to enter into every segment of the space economy.
Start-ups paving the way…
One good thing that happened in the dreaded Covid-19 year of 2020 is that India opened the space sector for private firms and allowed them to build rockets and satellites. ISRO has been magnanimous in allowing such firms to use its launching facilities.
Some Start-ups to look out for:
It created history by launching India's first privately developed rocket from ISRO's Sriharikota space centre in eastern India
The start-up is working on a product which will help provide images that can help in mining and disaster management
A Bengaluru-based start-up which is mapping space debris for the world
With entrepreneurs building in the Space Industry, space travel will soon be a reality! Check out this picture of 90-year-old William Shatner (Captain Kirk from Star Trek) who travelled to space aboard Amazon founder Jeff Bezo’s Blue Origin recently.
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