Trailblazing into tomorrow!

In a stellar display of prowess, India soared to new heights in 2023 with the successful launch of Chandrayaan-3 and the Aditya-L1, India’s first solar mission. These milestones not only secured India’s standing in the global space economy but also fueled the engines for the private space sector in India.

This year, India inked strategic alliances with the USA and France, especially USA signing the pacts on emerging technologies agreement between the two space agencies and joining the crucial Artemis Accord. Also, the declaraon by the two governments for future cooperaon in space has now manifested in NISAR coming to India in March this year and likely to be launched in the first quarter of next year, which is a testament to India’s commitment to global space exploraon.

While all this is happening in the government sector, the private sector also witnessed major milestones in this year. Firstly, we had the launch of the second batch of 36 satellites of OneWeb by ISRO/NSIL in March 2023. Furthermore, OneWeb India recently became the first company to receive approval from Indian space regulator IN-SPACe for satellite broadband services. The company is soon to roll out space- based communicaon services in India. The company is soon to roll out space-based communicaon services in India. Marking a significant milestone for India’s burgeoning satellite communicaon sector, the Telecommunicaons Bill, 2023, recently secured legislave approval with its passage through both houses of Parliament. This landmark legislaon paves the way for the administrave allocaon of satellite spectrum in India.

The decision by the government to allocate the satellite spectrum through a globally harmonized administrave method in the Telecommunicaons Bill, 2023 will pose a greater good for the naon and will spur growth in the nascent space industry, especially the downstream sector, foster healthy compeon, and ensure a level playing field for all stakeholders involved. The satellite broadband will hold the biggest market for space related acvies and will be the bridge to narrow the digital divide in the country by reaching the remotest rural locaons where terrestrial networks haven’t yet penetrated. With these posives, the correct method of allocaon of satellite spectrum through administrave method would be crical for this momentum to get carried forward in the lead private commercializaon domain, which is satellite communicaon and also allow new players to enter the market.

India’s dynamic space startup landscape
In April 2023, Dhruva Space launched its 3U and 6U Satellite Orbital Deployers and its Dhruva Space Satellite Orbiter Link (DSOL) onboard ISRO’s PSLV C55, as part of POEM-2. We also witnessed the successful launch of first satellite ABA First Runner (AFR) by Azista-BST. Though it happened from SpaceX launcher, but it was a satellite by Indian company Azista which was launched in June. In October, Skyroot Aerospace, based in Hyderabad inaugurated India’s largest private integrated rocket development facility under a single roof and also revealed Vikram-1, a mul-stage launch vehicle with seven storeys. This innovave rocket has a payload capacity of approximately 300 kg and the ability to deploy satellites into lower earth orbit (LEO).

The Indian space startups have become a strong pillar for the private space industry in the last decade, especially after the landmark move of opening the Indian space sector to private companies by our Hon’ble PM Shri Narendra Modi back in 2020. With a total funding of $123.90 million received in 2023, India’s space startups are not just stargazers but trailblazers in the commercial space race. This takes the total funding to $380.25, received by the Indian space startups ll date. In the past year, a total of 54 new space startups have emerged, bringing the current count of space startups in India to 204.

New Space Policy unleashed
Then of course, the New Space Policy 2023 was announced. Though the intenon had been given by the government in June 2020, but the policy in black and white came in April 2023. This is a landmark policy because it allows private players to carry out all acvies in all possible vercals, from launch vehicles, communicaons, applicaons, to even carry out asteroid mining in the future. It also establishes IN-SPACe as a regulatory agency.

Giving an outlook of the policy related developments for 2024, policy wise, the eagerly awaited Foreign Direct Investment (FDI) Policy which would be crical for the development of space sector, is in the final stages of being announced by the government. We also expect the Space Acitvity Bill to be discussed in the parliament which will cover various factors of India’s space goals, including insurance in space, internaonal and naonal obligaons, define offences and subsequent punishments, barriers of entry for private companies, liability for damages caused in space etc. These policies will help solidify the industry’s posion and create more opportunies for the industry to grow at a much higher pace than before. We believe once the FDI Policy is in place, funds will flow from Indian big companies once it becomes profitable. There will be financial incenves to private players to be able to operate and they will be able to get finances not only from the country, but from internaonal sources too.

Private space odyssey connues
In the private sector, recently, Tata Advanced Systems also announced that it has entered into a collaboraon with Satellogic Inc for establishing and developing local space technology capabilies in India. The producon of five PSLV rockets by HAL-L&T consorum is also in its advanced stage. Skyroot is gearing up to expand their operaons and are likely to have an orbital launch most likely in January 2024. Similarly, Agnikul also recently announced that they have been able to do the ground tests and would be launching their rocket very soon. In fact, their launch pad in Sriharikota has been made ready with the cooperaon of ISRO. The Bengaluru-based spacetech start-up Pixxel also recently announced their plans to launch 24 satellites in the next two years, focused on launching the first six of the 24-satellite constellaon Fireflies in 2024 and 18 in 2025.

As the private space sector in India propels forward with unprecedented collaboraons, groundbreaking launches, and visionary policies, the Indian private space industry is set for a revoluon in 2024. With strategic alliances, a thriving startup ecosystem, and the announcement of crical policies like the Foreign Direct Investment (FDI) and the Space Acvity Bill, India’s trajectory in space exploraon is poised for a quantum leap. The convergence of governmental support, industry innovaon, and internaonal partnerships marks not just a chapter but a resounding proclamaon of India’s role in the global space arena.

Opportunies and developments await in 2024
As we approach 2024, the Indian private space sector is buzzing with ancipaon. Skyroot Aerospace is gearing up for an orbital launch scheduled for January 2024. The company’s ongoing efforts contribute to diversifying satellite launch services within the private space sector. Agnikul is also poised to make a significant impact with the impending launch of its rocket, and its collaboraon with ISRO has readied the launch pad in Sriharikota. In a parallel trajectory, Spacetech start-up Pixxel harbors ambious plans to expand its satellite constellaon, targeng the launch of 24 satellites over the next two years, with the inial deployment of six satellites, named Fireflies, in 2024. Similarly, Azista-BST is set to connue its satellite deployment acvies. MapMyIndia, a pivotal player in spaal technology, is ancipated to make significant strides in the field of IoT-based products in the coming year. The realizaon of the collaboraon between HAL and L&T is eagerly awaited, parcularly regarding the producon of five PSLV rockets. This partnership signals an expansion of capabilies in both the manufacturing and launch of reliable space vehicles, contribung to India’s launch vehicle por􏰃olio. Indian space companies and startups ancipate receiving firm orders from the defense sector in the upcoming year, reflecng the growing synergy between the private sector and government enes.

These opportunies and developments underscore the vibrancy and potenal of India’s private space sector. With a convergence of technological advancements, policy support, and internaonal collaboraons, the private space industry is on the cusp of a transformave year, marking a new chapter in India’s space exploraon journey.