BENGALURU: Noting the significant potential in the small satellite market for Indian industries, Rakesh S, Chairman and Managing Director of Antrix, the commercial arm of Indian Space Research Organisation (ISRO) urged them to focus on the multi-billion dollar industry.
The small satellite market will grow to $16 billion in India and $335 billion globally in the next five years, he said. During the period, he said that 2,000 to 2,500 small satellites will be launched globally and Indian industry should benefit from the development.
Addressing a press meet here on Tuesday, he said that though the industry was partnering with them, the relationship has been similar to that of a contractor and a service provider.
He said that industries interested to invest in the small satellite sector will have to grow in phases. “There is a lot of potential in the small satellites segment and subsystems segment where they will have to focus on,” he said.
Antrix, he said, will explore commercial opportunities of Geosynchronous Satellite Launch Vehicle (GSLV) Mark III, which is the most powerful rocket developed by ISRO.
Rakesh said that irrespective of the number of opportunities, the number of GSLV launches will be fewer than PSLV.
ISRO is likely to develop 68 more commercial satellites in the current financial year, he added. He declined to answer a question on the controversial Antrix-Devas deal, maintaining that the issue is sub-judice.
The fifth Bengaluru Space Expo will be held between September 1 and 3. During this edition of the Expo, there will be business-to-business sessions which will allow industry to explore options with Antrix. Technical sessions focussing on key areas will also be held during the period, said Rakesh.