Wednesday, 12 June 2024
Trending
EconomyIndia

India is Competing Against China in the Space Industry

On an island off the country’s eastern shore, the state-owned OneWeb Ltd. launched thirty communications satellites last month. In addition to saving the UK satellite company’s attempt to build a global broadband internet network in the sky, the action also hinted at India‘s aspirations in the field.

Satellite launch companies are doing well thanks to the demand for high-speed internet supplied from space. According to predictions made by Ernst & Young, the so-called space industry will increase from $447 billion in 2020 to $600 billion by 2025.

The Space Economy

Dallas Kasaboski, the senior analyst with Northern Sky Research, a space research and consulting company, said: “If SpaceX is full, busy, or expensive, you have to look elsewhere – and you can’t look at China.”

Because the US generates the bulk of demand, China cannot cooperate with North America. India is much better off politically now, he claimed. Due in part to growing worries about Beijing gaining access to Western technology, Chinese rockets are not a viable alternative for many satellite operators.

  • Space industry will increase from $447 billion in 2020 to $600 billion by 2025.
  • Chinese rockets are not a viable alternative for many satellite operators.
  • India has gotten closer to the US and other regional superpowers, and its releases are less expensive.

India, on the other hand, has gotten closer to the US and other regional superpowers like Australia and Japan, and its releases are less expensive than those of its competitors.

India should be able to contend internationally thanks to NewSpace. The firm successfully launched an additional 36 satellites for OneWeb in October, and that launch was followed by the one on March 26. India’s biggest domestically produced rocket, the LVM3, is currently being produced at a faster rate by NewSpace.

Before India comes up to China, it still has a way to go. In March 2020, China held 13.6% of all earth-orbiting satellites, while India held 2.3%, according to the Center for Strategic and International Studies.

China launched 64 satellites last year, according to the publication Global Times, which is supported by the Communist Party. While the majority of Chinese private firms are still working on their rockets, a select few have succeeded in independent orbital launches.

 Six communications satellites were launched into low-Earth orbit in March 2022 by the Beijing-based startup GalaxySpace, and five more were launched there in January 2023 by competitor Galactic Energy, which has its headquarters there as well.

Related posts
Health and MedicalIndia

India's bird flu outbreak has been confirmed by the WHO

WHO confirms second human case of avian flu (H9N2) in India 4-year-old child in West Bengal…
Read more
IndiaPolitics

First cabinet meeting under Modi 3.0: portfolios revealed to ministers

Ministers in Modi 3.0 Cabinet received their portfolios in sealed envelopes during the inaugural…
Read more
EconomyEurope

The UK economy flatlines, showing no growth

The UK kept no development in April as per public measurements. The total national output (Gross…
Read more
Newsletter
Become a Trendsetter

To get your breaking, trending, latest news immediately without diluting its truthfulness join with worldmagzine immediately.

Leave a Reply

Your email address will not be published. Required fields are marked *

BusinessCommodityMiddle EastWorld

Saudi Arabia Reduced 500,000 Barrels of Oil Production

Worth reading...