The Indian space agency ISRO has achieved several milestones in the recent times ranging from Mars Orbit Mission to launching record 20 satellites through single vehicle. India s rapid growth in the space industry has helped the country make around Rs 230 crore in the last fiscal just through commercial launch satellite services. Also Read - Starlink satellite broadband service faces challenge in India, Elon Musk led company questionedAlso Read - Today's Google doodle is all about India's 'satellite man': Here's all you need to know
It is worth noting that the ISRO offers satellite launch capacity on a commercial basis through Antrix Corporation Ltd, Union Minister of State in the Prime Minister’s Office, Jitendra Singh, who also holds charge of the departments of Atomic Energy and Space, told the Rajya Sabha. Also Read - ISRO joins hands with MapmyIndia to develop a Google Maps rival
“During the last year (2015-16), Antrix earned a revenue of approximately Rs 230 crore through commercial launch services, which is about 0.6 per cent of the global launch services market,” he said.
Citing published reports available in the public domain on the international satellite market, Singh said the average annual revenue over the last three years, is approximately $200 billion (Rs 13 lakh crore), which includes the launch services market (Rs 0.37 lakh crore), satellite manufacturing (Rs 1.07 lakh crore), ground equipment (Rs 3.85 lakh crore) and satellite services (Rs 8.17 lakh crore).
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He said in order to meet the enhanced national requirements for launching satellites for earth observation, communication and navigation, ISRO is taking steps to increase the launch capacity. Towards stepping up the launch capacity, ISRO is in the process of exploring the possibility of enhanced involvement of Indian industry.
Besides meeting the national demand, the industry can explore the opportunities for commercial launch services, he added.