OREANDA-NEWS   Russia in the space industry will have to go the same way as the United States in 40 years, but in a "shorter time". This was stated by the General director of Roscosmos, Yuri Borisov.

According to him, the annual turnover of the space industry market is 469 billion rubles, which is largely due to balancing the interests of business and government at the state level in a number of Western countries.

Borisov added that the world leader in this area is the United States, which controls 50 percent of the global space services market.

"We have the same path ahead of us, only in a shorter time. Work is underway on a regulatory framework that will make the space services market attractive to private investors. A business model is being formed. At the head of the corner should be the consumer who will form the requirements for space services," Borisov said.

In his opinion, funds for space systems should be attracted from the market, and the state corporation can, in particular, play the role of a regulator. Borisov sees the development of the remote sensing of the Earth (remote sensing) market as one of the promising areas.

"One of the most promising areas is the sector of remote sensing of the Earth. In 2020, the volume of the global commercial remote sensing data market amounted to 1.6 billion dollars, by 2030 it is expected to grow to 5 billion. So far, the main customers for many private companies remain governments and defense departments," the head of the state corporation said.