India’s SpaceTech transformation is credited to privatisation
1 year, 3 months ago

India’s SpaceTech transformation is credited to privatisation

The Hindu  

Indian SpaceTech sector has received $62 million funding in 2023 so far, registering 60% increase, compared to the same period last year, according to data research firm Tracxn. The Indian private sector has taken the lead in launching satellites for practical applications, including satellite-based communication services like phone signals, broadband, OTT, and 5G, said Tracxn. Small Payload-based Launch Vehicles have garnered significant attention, securing $75.6 million in funding over the last two years, noted Tracxn. Similarly, the global space industry is undergoing rapid innovation, spanning 3D-printed rocket components, commercial space tourism, reusable launch vehicles, asteroid mining, and novel propulsion technologies.

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