The Indian domestic aerospace, drones, and space technology sectors are seeing a fast pace. A report by Adecco suggests that this sector has moved beyond the phase of participation in research activities. This is believed to be led from the city of Hyderabad.
More than 200,000 new jobs will be created in these sectors by 2033, said the report. Based on government initiatives and participation of the private sector in the sector, a five times increase in the sector is expected, taking the market value to around ₹3.98 lakh crore.
Increasing Demand for Skilled Professionals
- A few cities are going to act as prominent employment centers in the space industry, including Hyderabad, Bengaluru, Chennai, Ahmedabad, and Pune. The report says that there is a high demand for engineers, researchers, and data scientists.
- “More skilled people will get better salaries,” says Deepesh Gupta, Director, Adecco India. Technical specializations in Avionics, Cryogenics, Remote Sensing, or Space Habitat Engineering may fetch salaries 20-30% more than in other technology streams, he added.
- Similarly, the report highlights increasing requirements in other areas based on statistics from over 100 companies. Such space policy analysts, robotics engineers, specialists in Avionics, and those with expertise in GNC systems are highly sought after.
Support to Startups - Talent Development
- Those are being supported by the government in the domain of innovation and development of manpower in the space sector. Over Rs 1,000 crore has been accorded to the In-Space Venture Capital Fund under the Indian Space Policy of 2023.
- At this point in time, more than 250 space startups are currently functional in India. In addition, initiatives include the WISE Fellowship Program, Vigyan Jyoti, and ISRO’s Yuva Vigyani Karyakram (YUVIKA) to encourage the participation of women as well as young students.
- India's Share in Global Space Economy Currently, the Indian share in the global space economy is merely about 2 percent. But with equally ambitious plans of the Government of India to send out the Gaganyaan space mission and set up an Indian space station, the aim is to achieve 7-8 percent by 2033. Similarly, in this roadmap for growth, the Adecco report also projects $11 billion worth of exports related to space.
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