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Space has been an evergreen topic of fascination and inspiration all over the world. As the Earth is falling short for competitive space, innovators and engineers are looking forward to space exploration. As technology is advancing and the demand for greater speed in tech is a primary concern among companies as well as consumers. The usage of internet is reaching new highs companies are looking forward to ways of distributing faster internet. Also, as of now, there has been no concrete demarcation of territory in space and everyone is in a race to get there first.
The demand for satellite services, especially small satellites is increasing with the advance in tech and its application. Startups are exploring this vertical and coming up with innovative solutions to the questions of space. 2022 has been a benchmark year for companies in the space tech segment as India experienced its first rocket launch by a private company and numerous satellite launches.
The government has shown its support to this vertical by easing norms and permitting private players to function in the segment via the Space Activity Bill. Many startups and SME industries are excited about the potential in the manufacture of components for space applications- satellites, rockets, space rovers and the likes.
The innovation and potential shown by the companies is attracting investors and innovators to India. The space-tech industry is reported to touch $13 billion by 2025. The industry is also looking forward to multiple launches in the year 2023.
As India moves towards advance in tech, the domains of space, aeronautics and satellites are gaining increased interests. Satellites are crucial in weather prediction, communication, banking sector, military intelligence, surveillance and many other similar applications. Other than the immediate effect of increased funding for space-tech startups and their IPO’s listing, the benefits advanced tech will have a huge impact on agriculture which will trickle back to the stock markets with increased production and consumption. Also, as India is growing as leader in economy as well as in the capital markets, cutting-edge tech is an important element in the progress of an economy and stock markets.
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