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According to estimates from the European Space Agency, around 15,000 satellites have been placed into orbit up until now. However, the number is set to skyrocket in the next 15 years, with anywhere between 70,000 to 100,000 satellites expected to be launched. Notably, over 80% of these satellites will be small and weigh less than 500 kg.

Until recently, space-related commercial activities seemed almost unthinkable in India. The Indian Space Research Organisation (ISRO) had been reasonably secretive about its research and development activities over the last five decades, making it difficult for the general public to track their progress. However, the emergence of space startups has led to significant changes in the industry.

While SpaceX may be the most well-known private spacetech company, there are several others making waves in the industry. For example, in 2018, two undergraduate students from BITS Pilani identified a market demand for high-resolution satellite imagery data, which led to the creation of Pixxel Space, a space tech startup offering such data.

Another notable company is Dhruva Space, founded by Sanjay Nekkanti, who became fascinated with satellites during his college years. ISRO’s encouragement for universities to engage in satellite building projects inspired Nekkanti to join a team of students at SRM University. Their satellite, SRMSat, focused on addressing atmospheric pollution and was launched into orbit by ISRO in 2011. Eventually, Nekkanti established Dhruva Space in 2012, which now offers end-to-end services in satellite development and has secured significant funding and orders.

Several other space startups, including Agnikul Cosmos, Skyroot Aerospace, Digantara, and Pixxel, are also actively engaged in building and launching rockets, engines, and satellites. These startups aim to accomplish various goals, from generating high-resolution earth images to mitigating space debris.

The Indian space tech ecosystem has attracted substantial investor interest, and the launch of the Indian Space Association (ISpA) in 2021 further catalyzed the sector’s growth. Founding members of ISpA included prominent companies such as L&T, Tata Group, MapmyIndia, Walchandnagar Industries, and Bharti Airtel’s OneWeb. Investment in Indian space startups has grown at a compounded rate of over 94% since 2016, signaling a promising future for the industry.

In conclusion, India’s space sector is experiencing a post-liberalization phase, offering significant wealth generating opportunities for those who invest wisely. The emerging spacetech ecosystem in India holds great potential and is rapidly expanding, surpassing even the electric vehicle industry in size and scope.

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