The Indian National Space Promotion and Authorization Centre (In-Space) has announced plans to significantly increase space activity in India. According to a press statement, India is set to launch a total of 30 space missions from Indian soil by the end of FY25, marking the highest number of launches to date.

Major players and projected launches

The Indian Space Research Organisation (ISRO), the central space agency, is expected to lead the way with nine research-oriented missions and seven launches for India's manned space mission, Gaganyaan, all scheduled to take place by the end of FY25. However, ISRO's Small Satellite Launch Vehicle (SSLV), which is anticipated to become a major contributor to space missions in the future, will only have one launch before the end of next month.

New Space India Ltd (NSIL), ISRO's commercial arm, is slated to undertake seven commercial missions for paying customers by the end of FY25. In addition, the private sector is expected to make six launches during the same period. Hyderabad-based Skyroot Aerospace and Bengaluru's Agnikul Cosmos will contribute four and two sub-orbital launches, respectively. Skyroot Aerospace has already achieved a significant milestone as the first private space startup to launch a rocket from Indian soil in November 2022.

Scaling up the space sector

The projected launch schedule reflects India's efforts to expand its space sector beyond research missions. In-Space's decadal vision aims to grow the space sector revenue to $44 billion by 2033, accounting for 8% of global space revenues. NSIL's ability to secure commercial deals and the scaling-up of modular rockets like the SSLV are expected to drive a large part of this revenue growth.

Boosting India's space economy and exports

India's space economy is also expected to benefit from the contributions of private firms such as Digantara and Dhruva Space, which are projected to capture increasing segments of the global satellite and space-driven services market. To proliferate India's space economy, the country aims to boost exports of space services, which were at a meagre $300 million at the end of 2023. Over the next decade, export revenue is expected to rise to $11 billion.

Challenges and competition in the global space market

While India's space sector is poised for growth, it faces challenges in capturing a larger share of the global space economy. The United States remains the leader in space services, with companies like SpaceX and Project Kuiper playing significant roles. To compete with established players like Elon Musk and Jeff Bezos, Indian entities will need to enhance their capabilities and offerings.

With ISRO, NSIL, and private firms contributing to the launch schedule, India aims to increase its space sector's revenue and capture a larger share of the global market. The projected growth reflects India's commitment to advancing its space capabilities and positioning itself as a key player in space exploration and satellite services.