Comments by "Caroline Collett" (@carolinecollett956) on "Hindustan Times" channel.

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  46. According to a report by the Indian Space Association and Ernst and Young, India’s space economy is expected to garner revenue to the tune of about $13 billion (Rs 1.07 lakh crore) in 2025. The satellite services market is projected to grow to about $5 billion and the ground services to $4 billion by 2025. The highest compound annual growth rate of 13 per cent is projected for satellite and launch services in the next three years. Clearly commercial space services in India are on the cusp of a major change. Further contracts to ISRO will depend on the execution of this and another launch in 2023. In preparation, ISRO is planning to ramp up production of the LVM3 rocket to tap the growing demand. “There is a shortage of commercial satellite launch vehicles for placing multiple satellites in orbit to form a constellation. The Russian rockets are not in consideration now while the Ariane 6 rocket of Arianespace got delayed. The commercial potential of Chinese rockets is not accepted by the West. All these factors have opened up opportunities for India,” explains Somanath. The success of the mission makes it possible for India to capture a larger share of the commercial space sector, which is currently a low 2 per cent of the global market. The LVM3 was conceived primarily for launching geostationary satellites weighing up to 4 tonnes. With the latest launch, the space vehicle is capable of launching 6 tonnes of payload into low earth orbit. The heavy-lift rocket has a carrying capacity of 10 tonnes to the low earth orbit and 4 tonnes to the geo transfer orbit. OneWeb chairman Sunil Bharti Mittal says his company may need about 12 to 16 launches in the years ahead and ISRO’s order
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