Lt General A.K. Bhatt (Retd), Director General, Indian Space Association
The Indian space sector witnessed transformative growth throughout 2024, marked by significant policy initiatives, successful commercial launches and strategic developments, thereby positioning India as an emerging global space power. Looking ahead, the momentum shows no signs of slowing, with private sector participation and government support reaching unprecedented levels.
Policy advancements: Laying the foundation for the next decade
The release of IN-SPACe’s Decadal Vision document at the end of 2023 marked a significant milestone in strategic planning for India’s space sector. This was complemented by the introduction of comprehensive “Norms, Guidelines and Procedures for Implementation of Indian Space Policy-2023” (NGP) in May 2024, which provided the much-needed regulatory clarity for private sector participation.
The government’s commitment to the space sector was further underscored by the introduction of the FDI policy for the sector and the landmark approval of a Rs 10 billion venture capital fund. These financial initiatives are poised to catalyse private investment and innovation in the industry.
Infrastructure upgrades: Strengthening space capabilities in India
The approval of the Space Based Surveillance Mission represents a significant step forward in the country’s space monitoring capabilities, with 31 of the 52 satellites to be manufactured by the Indian private sector. The government’s commitment to human spaceflights has been reinforced through increased funding for the Gaganyaan programme and the next generation launch vehicle (NGLV) project, demonstrating the country’s ambition in advanced space exploration.
A major development has been the laying of the foundation stone for a new spaceport in Kulasekarapattinam, Tamil Nadu, which will significantly enhance India’s launch infrastructure. Further, the partnership between the All India Council for Technical Education (AICTE) and IN-SPACe to launch a model curriculum for a minor degree in space technology represents a significant step towards building human capital for the sector. The curriculum’s focus on spacecraft systems, launch vehicle design and remote sensing aligns well with industry needs. The establishment of IN-SPACe’s Technical Centre and the release of the Ground Station-as-a-Service whitepaper further demonstrate the government’s commitment to building robust technical infrastructure for the space sector.
Private sector milestones: Ushering a new era of innovation in the sector
The year 2024 saw several private sector milestones being achieved, including Agnikul’s successful launch and the collaboration between Tata Advanced Systems Limited (TASL) and Satellogic, which resulted in the TSAT-1A launch. The formation of the Bharat Space Collective marked a new era of industry collaboration. Meanwhile, NewSpace India Limited’s public-private partnership request for qualification for LVM3 and an expression of interest (EoI) by IN-SPACe for an Earth observation constellation have opened new avenues for private sector participation in heavy-lift launch vehicles and state-of-the-art satellite manufacturing respectively.
The year 2024 was marked by several missions, from XPOSAT to SPADEX, showcasing the Indian Space Research Organisation’s (ISRO) continued excellence in space exploration. Ananth Technologies’ contribution to the GSLV F14 launch and Skyroot Aerospace’s successful testing of the Vikram-1 space launch vehicle’s Stage-2 (Kalam-250) highlighted the growing technical capabilities of Indian private space companies.
The PSLV-C60 POEM Mission, featuring multiple successful deployments, showcased the breadth of private sector innovation. Bellatrix Aerospace launched its Rudra 1.0 High Performance Green Propulsion System, Galaxeye deployed its GLX-SQ test satellite, Manastu Space launched its Vyom-2 monopropellant propulsion system and PierSight introduced its first satellite, Varuna, for maritime monitoring. In a significant development for strategic capabilities, Manastu
Space transferred its green propulsion technology, crucial for satellite orbital maintenance, to the Defence Research and Development Organisation.
Commercial services saw substantial expansion, with Dhruva Space introducing AstraView, a comprehensive commercial satellite imagery service for continuous Earth observation insights. SUHORA launched SPADE, a subscription-based SaaS platform for satellite data solutions.
The private sector also attracted significant investment, demonstrating growing market confidence. India-US space technology company Pixxel secured $24 million to advance its hyperspectral satellite constellation project. Similarly, GalaxEye raised $10 million in Series A funding from a consortium of investors.
Policy and regulatory momentum
The formation of the Satellite Advisory Committee by the Department of Telecommunications and the Telecom Regulatory Authority of India’s consultation paper on spectrum assignment for satellite-based commercial communication services demonstrated the government’s proactive approach to addressing regulatory challenges in the sector. The industry is keenly awaiting the government’s final decision on allocating spectrum for space communication.
Towards new frontiers
As we look forward to 2025, several key developments are expected to shape the sector.
Launch vehicle development: Skyroot Aerospace and Agnikul have ambitious plans to achieve at least two launches per month, which, of course, will be preceded by their orbital launches this year. The L&T and HAL consortium is preparing to launch India’s first privately manufactured PSLVs in 2025.
This, combined with the growing momentum on ISRO’s NGLV project, indicates a significant expansion in India’s launch capabilities.
Satellite constellation development: The IN-SPACe EoI for an Earth observation constellation is expected to materialise into concrete projects in 2025, potentially leading to the development of the first multiple satellite constellations by private players in India.
Infrastructure development: The new spaceport in Tamil Nadu is expected to see significant progress in construction, while the Ground Station as a Service initiative should see wider adoption and implementation.
Policy and regulatory framework: The implementation of the FDI Policy 2024 and the operation of the space sector VC fund are expected to attract significant foreign investment and foster innovation in the sector.
Navigating the path ahead
While the sector shows tremendous promise, several challenges need to be addressed. Generation of demand in both the government and private sectors with multiple emerging use cases is the most critical requirement. Of course, as the final outcome, a space bill needs to be tabled. There is a need for continued regulatory refinement to keep pace with technological advancements. The industry must focus on the development of a specialised talent pool to support the growing industry. Effective coordination among various stakeholders, including ISRO, NSIL, IN-SPACe and private players is important. Finally, building robust supply chains for the space industry will be critical for its success.
Conclusion
The combination of government support through initiatives such as the VC fund and policy reforms, along with private sector innovation and international collaborations, suggests that 2025 could be a transformative year for the space sector in India. The success of planned missions, particularly private sector launches and satellite deployments, will be crucial in maintaining this momentum.
For example, a significant development in satellite communications will be Eutelsat OneWeb’s commencement of services in India, which promises to enhance broadband connectivity and help bridge the digital divide across diverse regions.
Pixxel has demonstrated the private sector’s growing capabilities in space technology and its successful demonstration missions have paved the way for more ambitious plans. The company is now poised to launch half a dozen satellites by mid-2025, marking a significant scaling up of its operations and underscoring the rapid pace of development in the country’s commercial space sector. Similarly, the launch vehicle landscape is set for a dramatic transformation by the end of 2025, with both Skyroot Aerospace and Agnikul planning to achieve successful orbital launches.
As India celebrated its first National Space Day in 2024, the sector stands at the cusp of a new era, with the potential to emerge as a global leader in space technology and services. Meanwhile, the growth in space data analytics and applications represents the most significant portion of the decadal vision. Several start-ups are developing AI-powered analytics platforms to extract actionable insights from satellite data, while established IT companies are integrating space-based data into their enterprise solutions. This growing ecosystem of space data applications is creating new market opportunities and demonstrating the broader economic impact of India’s space capabilities. A continued focus on education, infrastructure development and regulatory refinement will be key to realising this potential in the coming year, and the government must lead the way by being the anchor customer.
The Indian space sector’s journey through 2024 has been marked by significant policy initiatives, successful missions and growing private sector participation. The groundwork laid this year, particularly in terms of a policy framework, funding mechanisms and infrastructure development, positions the country well for continued growth in 2025.
