Space market size $350 billion; India's share - 3%; Need privateers: ISRO chief K Sivan

As Central government opened industry to private sector, ISRO chief K Sivan said on Saturday that many start-up companies have expressed interest in sector while big corporates are yet to come forth.

Following NASA’s footsteps, centre has w opened private players to industry, allowing m to participate in building of rockets, providing launch services amongst ors.

Speaking on development, K Sivan said market size of global sector is about $350 billion and India shares less than three per cent of market. If ISRO continues to remain sole player in sector, market share will t improve, he ded.

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Providing a breakdown of $350 billion global market, ISRO chief said, share of rocket launch service is two per cent, manufacturing of satellites is close to five per cent, share of application services is 45 per cent and ground equipment is 48 per cent.

K Sivan said government has also approved creation of a new body –Indian National Promotion and Authorisation Centre, or IN- — that would work as a link between ISRO and private company who wants to participate in -related activities or use India’s resources.

He reiterated that ISRO's work will t be handled by private sector and research centre will carry on with its work.

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'Acquiring land for second rocket launch centre'

K Sivan also said process of acquiring land for building a second rocket launch centre is underway in Tamil Nu’s Kulasekarapattinam and construction would only begin after land is handed over for development. Nearly 2,300 acres of land is required for project, a state government official said.

Major successful nations in sector have multiple rocket launch sites. Presently, India has one rocket port Andhra Presh’s Sriharikota in with two launch ps.

Sivan furr said, re will be some delay in India's human mission Gaganyaan due to Covid-19 pandemic and lockdown.

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(With ncy inputs)