Part 2 of 3 Parts (Please read Part 1 first)
The global competition for the exploration and exploitation of space is fierce. NASA has captured the global spotlight. They were the first to put humans on the Moon, send missions to Mars, and carry out other famous space exploits. NASA works closely with private companies like Space-X. It was allocated thirty billion dollars this year by the U.S. government. Russia is a space superpower which has partnered with the U.S. on many space ventures. It has hit a rough patch this year because of the invasion of Ukraine and is functioning with state budget for space of only two and a half billion dollars. China’s space program has a budget this year of thirteen billion dollars from the government and a billion dollars of private space investment.
India’s space budget is about one billion seven hundred million dollars this year. In the current space race, the U.S. has one thousand six hundred and fifty assets in outer space while China has four hundred and fifty. To date, India only has eighty assets.
The geopolitical shifts in recent years have caused experts to be optimistic about the Indian space program. India sets the bar really high in exhibiting and supplying competitive space technology and manufacturing at a fraction of global costs. India’s first Mars mission in 2014 cost India seventy-four million dollars. NASA’s Mars mission was launched the same week. It cost nine times more than the Indian mission.
Kumar, the journalist, said, “Space is unforgiving, with zero margin for error. So while ISRO has been able to build technology and systems that are affordable, they are also reliable systems of good quality.” There is also no lack of skilled workers in India.
A new report from the Indian Space Association and Ernst & Young predicted that India’s space economy is expected to be worth about thirteen billion dollars in 2025. India’s satellite manufacturing sector is expected to be worth about three billion dollars in 2025. This is a huge jump from the half billion dollars in 2020. The “downstream” sector includes ground services. It is expected to worth about four billion dollars the same year.
Narayan Prasad, co-founder of India’s first space think tank, Spaceport Sarabhai, told an interviewer that India is looking at its own “Henry Ford Moment”. This was a reference to the emergence of India as the favorite choice in the global space market. He said, “With China being seen as unreliable collaborators, and Russia’s war impeding global trust, India stands out in a unique place with its space capabilities, ability to do business and the right mix of talent and infrastructure. There’s literally no limit to what can be achieved.”
Prasad added that much of the success of the India’s current private players is based on the work of four generations of their predecessors. This began with legacy companies such as Godrej that have been in the space business for over thirty years. However, many companies were struggling even just a decade back.
Please read Part 3 next