India’s space economy is set to grow to nearly $13 billion by the year 2025, jumping from the $9.6 billion mark of 2020, at a CAGR of 6%, a new report by the Indian Space Association (ISpA) and EY shows.
India’s Space Economy To Be Worth Nearly $13 Billion By 2025
The inclusion of private players in the space sector and increased demand for geospatial data has given a boost to the Indian space economy. The satellite services and applications segment is likely to form the largest share of the space economy accounting for 36% by 2025.
And a greater demand for high bandwidth and lower latency data requirements, an increase in IoT (Internet of Things) and autonomous systems, and demand for military and defence satellite communication solutions are giving a leg up to this segment, the report noted, as per TOI.
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The fastest rate of growth, however, is expected in the space launch segment, at a CAGR of 13%, spurred by growing private participation, evolving technology in this…
