India's space economy projected to reach USD 44 billion by 2033

India’s space and aerospace sectors are experiencing significant growth driven by technological advancements and manufacturing capabilities. A joint report by EY and the Confederation of Indian Industry (CII) projects that India’s space economy will expand from USD 8.4 billion to USD 44 billion by 2033. This growth is expected to be fueled by policy reforms, increased private investment, and the conversion of space-based capabilities into commercial services such as Earth observation, satellite communication, and disaster management.

In the aviation sector, India is leveraging indigenous technologies like the GAGAN (GPS Aided GEO Augmented Navigation) system. Developed by the Indian Space Research Organisation (ISRO) and the Airports Authority of India (AAI), GAGAN is a Satellite-Based Augmentation System that enhances GPS accuracy for safer aircraft navigation. India joins a select group of nations, including the US, Europe, and Japan, possessing such operational systems. Additionally, the country is becoming a key supplier for global aviation giants like Boeing and Airbus, with domestic companies expanding their roles as Tier-1 suppliers.