New Delhi: India’s aerospace industry is expected to grow twice as fast as the global market, supported by government reforms, rising private investment and increasing collaboration with the Indian Space Research Organisation (ISRO), according to a new report.
The sector, currently valued at $13 billion, could more than triple to $40 billion by 2030, the Forbes report cited Arkam Ventures as saying.
India’s Space Economy Expands
Some estimates suggest India’s space economy could reach $44 billion by 2033, driven by growing demand for satellite technology, launch services and space-based applications.
The report highlighted India’s strength in software development, particularly in processing and analysing satellite data for commercial applications.
Indian startups are increasingly exploring opportunities in satellite manufacturing, launch vehicles and communication systems.
Private Companies Eye Global Market
By 2030, private companies could participate in up to 45 international launches annually and manufacture nearly one-third of the world’s earth-observation satellites, the report projected.
India could also become a major exporter of avionics, Global Navigation Satellite System (GNSS), satellite communication equipment and ground radio frequency systems.
However, achieving these targets will depend on securing regular international contracts and delivering reliable services.
Space Startups Attract Investment
Cumulative private investment in India’s space sector has reached approximately $600 million.
Space technology startups have raised nearly $256 million in 2026, while venture capital and private equity investments could reach $3.5 billion over the next five years.
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Sanjay Kumar, cofounder of EON Space Labs, said India’s engineering talent and cost-efficient manufacturing offer significant advantages over the US and Europe.
ISRO Collaboration Boosts Growth
Small private companies are developing rockets, satellites and advanced aerospace technologies with support from ISRO’s commercial ecosystem.
Technology transfers through NewSpace India Limited (NSIL) are helping businesses develop commercial capabilities.
Government-backed reforms and growing investor interest are expected to strengthen India’s position in the global space industry.
