LAS VEGAS, NV (IANS) – The friendly government policies and timely investments have given a much-needed boost to startups in the aerospace sector compared to other countries and the country is ripe for tremendous growth in the space industry over the next decade, a top AWS executive has said.
The Indian space economy is currently valued at around $8.4 billion with a 2 percent share in the global space economy.
As per estimates by the Indian National Space Promotion and Authorization Centre, the country’s space economy is poised to reach $44 billion by 2033 with nearly 8 percent of the global share.
Clint Crosier, Director, Aerospace and Satellite, AWS, said that he is very bullish on India and is witnessing a faster rate of space startups being created in the country over the last year.
“We have seen dozens and dozens of new space startups being established in India. This is because of the new government policies and investments, and the goal to increase by 4 times the amount of its share of the global space industry,” Crosier emphasized.
In September, AWS signed a strategic MoU with the Indian Space Research Organization and IN-SPACe to support space-tech innovations through cloud computing. This collaboration will give space startups, research institutes, and students access to cutting-edge cloud technologies that accelerate the development of new solutions in the space sector.
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