BENGALURU: While 2023 saw the launch of Chandrayaan-3, 2024 recorded and celebrated the progress and achievements the satellite made. But much more happened this year.
In the words of space experts, researchers and investors, 2024 acted as a base, building platforms for launches in the coming years. It was also a starting point for more investments to roll into the space sector for research and deep tech.
The Union government’s announcements and policies on foreign direct investment into the sector opened the doors for the private sector to bring in their talent, provide financial support and partner with government agencies.
The highlight of the year was the Union ministry announcing the names of four astronauts for the Gaganyaan mission. Prime Minister Narendra Modi was present when the names of Group Captains Prashanth Balakrishnan Nair, Ajit Krishnan and Angad Pratap, and Wing Commander Shubanshu Shukla were announced in February for the first human space flight.
As the year was drawing to a close, the Indian Space Research Organisation (ISRO) announced the assembly of HLVM3 for Gaganyaan mission and completion of successful trials of the crew module. The trials were carried out at the Eastern Naval Command using welldeck ships off Visakhapatnam coast.
Awais Ahmed, founder and CEO, Pixxel Space Technologies, said 2024 saw the government approving major projects including Venus and Chandrayaan missions, where private companies will collaborate. The government also invited private investments up to 49% in rockets, 74% in satellites and 100% in systems.
Narayan Prasad, Chief Operating Officer, SatSearch, said the year saw a Rs 1,000 crore venture capital fund for space start-ups. The government also announced building of 52 satellites for the defence space sector and surveillance, of which 31 will be built by private companies alone.
Prasad said with the opening of FDI in the space sector, the government saw a rise in companies now working with government agencies in upstream hardware and satellites.
Pranit Mehta, co-founder, GalaxEye, said after the government opened its doors for private partnerships, 2024 saw a shift in the interests of investors. It started a trend for India-bound investments across the value chain. The year also saw marked achievements towards the space defence sector.
Earlier, space technology and achievements were positioned around ISRO’s works, but 2024 recognised the milestones achieved by the private sector.
Defence Minister Rajnath Singh also stressed on adoption of high-end space technologies to strengthen the defence sector. He said the government has introduced many schemes, including the Innovation for Defence Excellence (IDEX) and Technology Development Fund (TDF), to nurture young talent.
During the year, ISRO launched XPosSAT (X-Ray Polarimeter satellite), which was the first satellite dedicated to carry out research in space-based polarisation measurements of X-ray emissions from celestial sources. The GSLV-F14/ INSAT-3DS was launched for meteorological observations and to monitor land and ocean surfaces for weather forecasting and disaster warnings.
ISRO also tasted success with the launch of Reusable Launch Vehicle technology through RLV LEX-2 and 3. The Organisation continued with its second experimental flight demonstrating success in the air-breathing propulsion technology. It also announced the success of the third developmental flight of SSLV.
Highlights
Announcement of four astronauts for Gaganyaan mission
Cabinet approval to Venus mission and bringing samples from the moon
Centre’s approval for private investment in defence and space research
Successful launch of PSLV-C59/ Proba-3 Mission, XPosSAT, GSLV-F14/ INSAT-3DS and Reusable Launch Vehicles