Mumbai: Over 2L jobs would be created by India’s space-tech sector by 2033: Report
Mumbai: According to a survey released on Friday, India’s aerospace, drone, and space technology sector is predicted to grow more than five times to $44 billion by 2033, generating over 2 lakh new employment for engineers, researchers, data scientists, and other professionals.
A study by workforce solutions company Adecco India claims that government reforms, private sector involvement, and foreign partnerships are propelling the aerospace, drone, and space tech sectors’ fast transformation from a research-driven field into a fully fledged business.
The survey also said that over 2 lakh new employment for engineers, researchers, data scientists, and business professionals are anticipated to be created by the nation’s drone and space-tech sector.
Furthermore, it said that new-age positions like robotics engineers, avionics specialists, space policy analysts, and GNC (guidance, navigation, and control) specialists are becoming increasingly important to India’s space aspirations.
The report’s conclusions and figures are based on information gathered from over 100 Adecco clients and enhanced by sources of market research.
Adecco India Director and Head of General Staffing Deepesh Gupta said, “With a strong government vision and a vibrant startup ecosystem, India is poised to become a global space hub, and this will create a wave of opportunities for talent across engineering, research, data, and business domains.” With salaries for specialized positions in avionics, cryogenics, ATDC (Attitude Determination and Control Systems), remote sensing specialists, and space habitat engineers commanding a 20–30% premium compared to technical fields, regions like Bengaluru, Hyderabad, Chennai, Ahmedabad, and Pune are anticipated to drive the most opportunities, Gupta added.
Reforms including the Indian Space Policy 2023, a robust base of more than 250 space companies, and a historic Rs 1,000 crore venture capital fund under IN-SPACe to support innovation and private sector involvement are key components of this expansion.
“A key component of India’s space workforce will be diversity. More women are already able to pursue careers in technical disciplines, research, and entrepreneurship because to programs like the SAMRIDH Scheme, ISRO Young Scientist Programme (YUVIKA), Vigyan Jyoti Programme, and WISE Fellowship. The Gaganyaan mission, India’s involvement in the Axiom-4 ISS program, and the construction of the nation’s own space station are upcoming milestones that are expected to increase talent demand across the ecosystem.
At the moment, the Indian space economy accounts for almost 2% of the world market. According to the research, the government has set an ambitious goal of increasing this to $44 billion by 2033, which includes $11 billion in exports, putting India in a position to control 7-8 percent of the global space economy.