TOKYO -- India is emerging as a major force in the global space industry, propelled by the rapid expansion of its private sector. As of May, the country had 172 space-focused private enterprises, second only to the U.S., which led with 825 companies, according to Tracxn, a market intelligence provider in India.

India's space sector is being driven by a surge in startups, many launched by entrepreneurs, including former engineers and other professionals from the Indian Space Research Organisation (ISRO). With a growing record of successful satellite launches, the South Asian nation is helping reshape the global space industry and intensify international competition.