Space Economy

About:

• According to the report, the space-launch segment would grow at a CAGR of 13%, spurred by growing private participation, latest technology adoption and low cost of launch services.
• The satellite services and application segment would form the largest share of the space economy accounting for 36% of the ecosystem by 2025.
• On the country’s satellite-manufacturing opportunity, EY and ISpA said that in 2020, it was $2.1 billion. This would reach $3.2 billion by the year 2025.

Indian Space Association (ISpA)

• Indian Space Association (ISpA), established in December 2020, is the premier industry association of space and satellite companies. Prime Minister Narendra Modi launched the ISpA on October 11, 2021. 
• The industry association will act as an independent and “single-window” agency for enabling the opening up of the space sector to start-ups and the private sector, according to the government agenda.

Source : The Hindu

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