By R Anil Kumar
- India’s space sector has seen tremendous growth over the past decade. The advances in space programs have been highly remarkable, with vigorous and determined efforts by ISRO. Taking the vision of the Government of India in enhancing private sector participation in the space sector
- Indian Space Research Organization (ISRO), has been organising the Bengaluru Space Expo 2024 (BSX), a Biennial International Exhibition and Conference since 2008
- The 8th edition of BSX 2024, which will be organised in association with Indian National Space Promotion, and Authorisation Centre (IN-SPACe) and NewSpace India Limited (NSIL) is scheduled to start on September 18, 2024 at BIEC in Bengaluru
- The Bengaluru Space Expo 2024 serves as a premier platform for industry leaders, innovators, and enthusiasts to gather, exchange ideas, and explore the most recent advancements in space technology. The cutting-edge technologies and capabilities driving the future of space exploration will be showcased at BSX 2024, with an exciting line-up of exhibits, workshops, and networking opportunities
Bengaluru, September 7. The city is set to host the eighth edition of the Bengaluru Space Expo (BSX) from September 18 to 20. The biennial international exhibition and conference, which opened in 2008, is envisioned to enhance the participation of the private sector in space-related activities.
The eighth edition of the Bangalore Space Expo 2024 and International Conference and Exhibition is scheduled from September 18 to 20 at Bangalore International Exhibition Centre (BIEC), here.
The three-day event will include an exhibition and an international conference themed around ‘Accelerating tomorrow: harnessing the potential of space sector for unified expansion’.
ISRO said the event would serve as an ideal platform for Indian and international space agencies and companies to interact and explore newer business opportunities, showcase their strengths in the space arena, and explore partnership opportunities for the future.
The event will also highlight the initiatives undertaken by the Indian government to encourage and engage Indian industries in the space sector, as well as foster collaboration with international space agencies.
More than 250 space companies, 10,000 business visitors, and 250 delegates are expected to participate in the event which will also feature pavilions from 10 countries.
“India’s space sector has witnessed remarkable growth over the past few decades due to path-breaking technological advancements and determined efforts of ISRO, reflecting the nation’s commitment to space exploration and innovations.
The space sector in India is experiencing a significant transformation with the opening of the space sector to private companies,” ISRO said while announcing the expo.
It added that currently, India’s share in the global space economy stands at 2-3%, yet it holds great potential for increased space commerce for new entrants. Implementation of the Indian Space Policy – 2023 and related amendments to the FDI policy, wherein 100% overseas investment in manufacturing components for satellite, ground, and user segments is permitted, will stimulate the growth of private sector, leading to increase in the India’s market share in global space business.
Global Space Industry
- Global Space economy is valued at USD 370 Billion in 2021 and is expected to reach USD 642 billion by 2030 with CAGR of 6.3%, as per the findings by renowned consulting firm EuroConsult.
- This growth is enabled by growing demand for space-based services, lowering of costs, miniaturization and access to technology, liberal funding and enabling regulations around the world.
- The revenue consists of the space market (USD 337 Bn in 2021) which includes commercial space revenues and government procurement for their space activities contracted to the private sector and other spending from government organizations (USD 33 Bn) to conduct their space activities (internal costs and R&D).
Global Space Market
Historically, human space exploration has focused on Low Earth orbit and unmanned missions. However, with increased private funding, technological advancements, and public sector interest, there’s a renewed push to explore beyond. Declining launch costs and rising public interest are propelling this industry to new heights, offering a galaxy of opportunities for investors.
Trillion-Dollar Opportunity, Awaiting
- Space Exploration Propelling a $1.8 Trillion Global Economic Surge by 2035, With Growth Surpassing 9% Annually
Indian Space Market
- The Indian Space Sector, valued at $9.6 billion in 2020, contributes 2-3% to the global space economy. Projected to reach $13 billion by 2025, India aims to capture close to 10% of the global economy by 2030.
- Recognizing the pivotal role of the private sector, the Prime Minister Narendra Modi emphasizes its importance in expanding India’s share in the global space industry.
- Currently, over 400 industrial firms, including conglomerates and SMEs, collaborate with ISRO to develop subsystems for space launch and ground infrastructure. India’s participation in the Artemis Accords and agreements with four countries for satellite launches between 2021 and 2023, signify its growing international collaboration. NSIL, mandated as the exclusive public sector aggregator for space assets/services, plans to invest $1.2 billion in the next five years to boost industry involvement.
The space startup ecosystem has flourished, with 189 startups in 2023, receiving $124.7 million in funding. With favourable policy changes, including the Space Policy 2023 and upcoming legislation, India is poised to emerge as a global leader in the space sector, offering new avenues for investments and technological advancements.
With a push from Prime Minister Narendra Modi, India has privatised space launches and is targeting a fivefold increase in its share of the global launch market, which some expect to be worth $47.3 billion by 2032.
This increased private sector participation would help to generate employment, enable modern technology absorption and make the sector self-reliant.
It is expected to integrate Indian companies into global value chains. With this, companies will be able to set-up their manufacturing facilities within the country duly encouraging ‘Make in India (MII)’ and ‘Atmanirbhar Bharat’ initiatives of the Government.
As a leader in the space technology domain, the Organisers of Bangalore Space Expo, understand the importance of staying at the forefront of innovation and collaboration.
The Bengaluru Space Expo 2024 serves as a premier platform for industry leaders, innovators, and enthusiasts to come together, exchange ideas, and explore the latest advancements in space technology.
Space Sector Statistics
Snapshot
The Indian space sector is recognised for building cost-effective satellites with launch of the Mars probes successfully at first attempt and taking hundreds of foreign satellites to space.
India constitutes 2-3% of the global space economy and is expected to enhance its share to more than 10% by 2030.
Satellite Manufacturing
There are collaborations between government agencies and private parties for manufacturing parts of satellites and their launchers; for instance, PSLV-C53 is the first official public–private collaboration for a space launcher in India.
Satellite Launches
The Indian Space Program under ISRO has achieved many considerable feats and has established India’s name in the global picture as a provider of reliable and cost-effective space solutions.
- 1st nation to reach Martian orbit in its first attempt, with Mars Orbiter Mission or the Mangalyaan 2013
- Launching the Gaganyaan, India’s Human Spaceflight Mission aiming to launch India’s first crewed flight into space
- Research satellites, Navigation satellites (NavIC) and even student satellites, promoted by ISRO
Satellite Launches Services
ISRO provides launch facilities for private and foreign organisations. India has launched 381 foreign satellites for 34 countries on a commercial basis between 1999 and 2022, with 36 OneWeb Gen 1 communication satellites launched in one go on 23rd October 2022.
Satellite Applications i.e. remote sensing, space-based navigation, earth observation, disaster management, testing, data analysis and others. Privatisation will be the key to boost India’s presence and capabilities in space
(Source: ISRO)
