ISRO Targets 10% Share In Global Satellite Launch Market

(MENAFN- KNN India) New Delhi, Aug 2 (KNN) The Indian Space Research Organisation (ISRO) has set its sights on securing 10% of the global commercial satellite launch market.

According to a senior official, this move aligns with India's growing ambitions in the global space economy, where demand for satellite launches is steadily increasing.

Currently, the global satellite launch market is valued at nearly $20 billion annually. India's share stands at just around 2%, but ISRO is confident that with the right reforms and private sector involvement, this can be significantly improved.

The organisation has already completed over 430 satellite launches for 34 countries, generating over Rs 3,100 crore in revenue.

Dr. R Umamaheswaran, chairman of IN-SPACe (Indian National Space Promotion and Authorization Center), highlighted the importance of liberalised policies to allow more private companies to contribute to India's space ecosystem.

He stated that over 200 Indian startups and companies are now actively involved in the sector, with at least 40 of them engaged in satellite manufacturing or launch vehicle development.

The government aims to create a robust space ecosystem, where private players complement ISRO's efforts by offering commercial services.

This model is expected to help India increase its market share, especially in small and medium satellite launches, which are in high demand globally.

In addition, India is working towards developing its own communication satellite constellations, positioning itself as a serious player in satellite-based broadband and Earth observation services.

With ISRO's proven launch capabilities and the recent opening up of the sector to private players, India is hopeful of transforming itself into a global hub for affordable and reliable space launch services.

(KNN Bureau)

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