As startups expand spacetech innovations for data, funds remain a concern

Spacetech startups are leveraging small satellites, cost-effective launch solutions, and the use of AI to introduce affordable technology that has a wide range of applications

The Indian space technology sector is currently valued at $8.4 billion, but accounts for a mere 2 per cent of the global space economy. However, the sector is projected to hit $44 billion by 2033, capturing a larger slice of the global market, according to a whitepaper from consulting company KPMG at the TiE Global Summit held earlier this week in Bengaluru. 

 

The growth is expected to be driven by technological advancement, government support, and rising demand for space solutions. Expanding satellite communications, increased space data applications, and policies such as the Indian National Space Promotion and Authorization Center (IN-SPACe),