“In 2022, the space sector is seeing what the IT sector went through in the 1990s. We will have our own SpaceX in the next two years,” Sood said.
Lead science adviser Ajay Kumar Sood said: Looking to further increase private engagement, the government will soon announce a new space policy that could see a resurgence of “projects” similar to SpaceX” of India, Chief Scientific Advisor Ajay Kumar Sood.
In an interview with PTI, the government’s top science adviser said consultations have taken place and the final version of the space policy will soon be forwarded to the Empowered Technology Group for examination. more.
“Space policy is being worked on. We haven’t used it much, but the new technology of low-earth orbit (LEO) satellites … it’s a low-cost game.
“There are a lot of satellites in LEO. That will change the field of space,” said Sood, who took office on April 25.
He said the government would encourage satellite production in the private sector for a range of applications from healthcare and agriculture to urban development and property tax estimation.
“We haven’t exploited the full potential of the field yet. In 2022, the space sector is seeing what the information technology field went through in the 1990s. We will have our own SpaceX. for the next two years,” Sood said.
SpaceX, founded by Elon Musk in 2002, is a privately held space transport company that designs, manufactures, and launches advanced rockets and spacecraft.
He said that there are many opportunities to use space technology for the benefit of humanity but there are limitations to what the Indian Space Research Organization (ISRO) can do.
“New launch vehicles are being developed, new spacecraft fuels are being developed. This will connect the unconnected. That’s the theme – connecting the unconnected – will be. happens as we expand the realm of space,” Sood said.
With the opening of the space sector, there could be dedicated satellites for various fields such as agriculture, education, disaster management, e-commerce applications, he said.
“Edusat was launched in 2004. The second version hasn’t been launched yet. So why not let the private sector go into business? It will happen. For the agricultural industry, we can have satellites that have can give information about climate, soil. Conditions. It can be called. E-Krishi, Thought process is already underway. What’s missing are satellites,” Sood said.
According to industry estimates, the global space economy reaches $423 billion with India accounting for 2-3%.
Morgan Stanley estimates that the global space industry will expand to one trillion dollars by 2040.