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India's aerospace, drones, and space tech industry will expand over five-fold to USD 44 billion by 2033 and create more than 2 lakh new jobs for engineers, researchers, and data scientists, a report said on Friday.
As reported by workforce solutions provider Adecco India, the aerospace, drones, and space tech industry is quickly evolving from a research-driven domain into a developed industry, driven by government reforms, private-sector participation and international collaborations.
The nation's drone and space-tech industry will create over 2 lakh new jobs for engineers, researchers, data scientists and business professionals, amongst others, the report added.
Moreover, new-age roles such as Space Policy Analysts, Robotics Engineers, Avionics Specialists, and GNC experts are emerging as important to India's space ambitions, it stated.
The insights and numbers presented are derived from data collected across over 100 Adecco clients, supplemented with market research sources.
"With robust government vision and a vibrant startup ecosystem, India will become a global space hub, and this will create a wave of prospects for talent across engineering, research, data and business domains," Adecco India Director and Head of General Staffing Deepesh Gupta said.
Regions, for example, Bengaluru, Hyderabad, Chennai, Ahmedabad, Pune, will drive maximum prospects, with wages for niche roles in avionics, cryogenics, Attitude Determination and Control Systems, Remote Sensing Specialists, Space Habitat Engineer commanding a 20-30 per cent premium compared to technical fields, Gupta added.
Central to this growth are reforms, for example, the Indian Space Policy 2023, a thriving base of 250+ space startups, and a breakthrough of Rs 1,000 crore VC fund under IN-SPACe to fuel innovation and private-sector participation.
"Diversity will be a cornerstone of India's space workforce. Initiatives, for example, the WISE Fellowship, Vigyan Jyoti Programme, ISRO Young Scientist Programme (YUVIKA), and the SAMRIDH Scheme, are already allowing more women to enter technical fields, research, and entrepreneurship.
Upcoming milestones that will accelerate talent demand across the ecosystem comprise the Gaganyaan mission, India's contribution in the Axiom-4 ISS program, and the expansion of the nation's own space station.
At present, the Indian space economy is contributing around 2 per cent to the global market. The government has set a target of scaling this to USD 44 billion by 2033, including USD 11 billion in exports, positioning India to command 7-8 per cent of the global space economy, according to the report.
Source: Business Standard
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