India's space industry likely to be worth $12.8 billion by 2025

11 Oct 2022 , 10:06 AM

According to research issued on Monday, India’s space economy is predicted to be worth close to US$13 billion by 2025, with the satellite launch services sector expected to develop at the quickest rate due to rising private engagement. According to a study by the Indian Space Association and Ernst & Young, the increasing demand for smaller satellites would lead to an increase in satellite production in the country and attract foreign start-ups to the industry to aid in the incubation of space tech businesses here.

India’s space sector is expected to be valueat d USD 9.6 billion in 2020 and USD 12.8 billion by 2025, according to the report “Developing the Space Ecosystem in India: Focusing on Inclusive Growth.” By 2025, the ground sector would have a turnover of USD 4 billion, satellite manufacturing would generate USD 3.2 billion, and launch services would generate USD 1 billion, making the satellite services and applications segment the largest in terms of dollars.

For feedback and suggestions, write to us at [e-mail]