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In News
- Indian Prime Minister recently launched “Mission DefSpace” at DefExpo22.
More about the news
- About:
- “Mission DocSpace” is launched for developing innovative solutions for the Armed Forces.
- The Prime Minister also released the fourth defence indigenisation list which bars the import of 101 items after certain timelines.
- Significance of Space diplomacy:
- Space technology is shaping new definitions of India’s generous space diplomacy, giving rise to new possibilities.
- There are more than 60 developing countries with whom India is sharing its space science. The South Asia satellite is an effective example of this.
- By next year, 10 Association of SouthEast Asian Nations (ASEAN) countries will also get real-time access to India’s satellite data.
- Even developed countries like Europe and America are using our satellite data.
- Fourth defence indigenisation list:
- As part of efforts to boost the domestic defence industry and promote defence exports, the Defence Ministry promulgated Positive Indigenisation Lists.
- It lays special focus on equipment/systems, which are being developed and likely to translate into firm orders in the next five to 10 years.
- The Defence Ministry had earlier promulgated the first, second and third Positive Indigenisation Lists, comprising 310 items.
- The items on the lists cannot be imported by the Services and should be sourced from within the country.
New developments at DefExpo2022
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Significance of the Space industry
- Assessing & recording weather information:
- Satellites provide more accurate information on weather forecasts.
- It can also assess (and record) long-term trends in the climate and habitability of a region.
- For example, by monitoring the long-term impact of climate change at regional, territorial, and national scales, governments would be able to devise more pragmatic and combative plans of action for farmers and dependent industries.
- Real-time tracking:
- Satellites can serve as real-time monitoring and early-warning solutions against natural disasters such as earthquakes, tsunamis, floods, wildfires, mining etc.
- Real-time tracking can also serve multiple purposes in defence.
- Communication and connectivity:
- As for connectivity, satellite communication can reach more remote areas where conventional networks would require heavy complimenting infrastructure.
- Additionally, as to the reliability, the World Economic Forum(WEF) stated that satellite communication can help connect 49% of the world’s unconnected population.
- In this light, it must be noted that satellite communications, which are used to facilitate telecommunication services, are among the major categories for investment in the space technology sector.
- Other prominent categories include spacecraft and equipment manufacturing.
- Benefits to other sectors:
- The space avenue is an integration of the aerospace, IT hardware and telecom sectors.
- It is thus argued that investment in this arena would foster positive carryover effects to other sectors as well.
Potential of India’s space sector
- Recently, a joint report was prepared by EY and the Indian Space Association (ISpA).
- Report highlights:
- Indian space economy:
- The Indian space economy is set to reach $13 billion by 2025, according to this joint report.
- Space launch segment:
- The report also said the space launch segment would grow fastest at a CAGR of 13% spurred by growing private participation, latest technology adoption and low cost of launch services.
- Satellite services and application segment:
- This segment would form the largest share of the space economy accounting for 36% of the space economy by 2025, as per the study.
- On the country’s satellite manufacturing opportunity, it said in 2020 it was $2.1 billion and this would reach $3.2 billion by 2025.
- Also, by 2025, satellite manufacturing would be the second fastest-growing segment in the Indian space economy.
- Space tech start-ups:
- There are over 100 space tech start-ups in the country and investments in space tech start-ups increased 196% y-o-y in 2021, the survey said.
- Space parks:
- Space parks that are coming up across the country would give a fillip to companies operating across the space value chain, especially manufacturing, found the study.
- Indian space economy:
- Report highlights:
Source: TH
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