L&T, HAL Among Potential Bidders For India's Small Satellite Launch Rocket Privatisation

Larsen & Toubro and Hindustan Aeronautics are among the companies being considered for potential bids in India's plan to privatize its small satellite launch rocket, according to a source.

The Indian government is looking to attract more investment in the thriving space market.

The Small Satellite Launch Vehicle (SSLV) was created by the Indian Space Research Organisation (ISRO), the country's national space agency.

It offers a cost-effective solution for launching satellites weighing up to 500 kg into low-earth orbit.

These companies cater to a rapidly growing market for launching clusters of satellites used for communication and data purposes, a market in which SpaceX and its competitors also operate.

Around 20 companies have expressed interest in bidding for the privatization, which is the first of its kind under Prime Minister Narendra Modi's policy drive to open up the space industry to investment, as reported by Business Standard.

India is planning to significantly increase its share of the global satellite launch market in the next ten years. This ambitious goal aims to multiply their current market share by fivefold.

According to an anonymous source, the next step in this process will involve opening the bidding process. However, the discussions regarding this matter are not yet public, hence the request for anonymity.

Under the terms of the contract, the companies have agreed to manufacture and deliver five Polar Satellite Launch Vehicles (PSLV), which are commonly referred to as ISRO's "workhorse" rocket. The delivery of these rockets is anticipated to commence within the next two years.

Under the terms of the contract, the companies have agreed to manufacture and deliver five Polar Satellite Launch Vehicles (PSLV), which are commonly referred to as ISRO's "workhorse" rocket. The delivery of these rockets is anticipated to commence within the next two years.

Next month, ISRO plans to utilize the PSLV, which stands at a towering height of 44 meters (144 feet), to launch its Aditya-L1 mission, a space-based solar observatory.

This upcoming launch will mark ISRO's first mission since the successful landing of the Chandrayaan-3 spacecraft on the moon's south pole earlier this week, a monumental achievement for the organization.

The triumph of the Chandrayaan-3 mission is expected to have a positive impact on India's efforts to encourage private investment in space ventures. As a result, ISRO suppliers and related companies have witnessed a rise in their share prices throughout this week.

The Indian National Space Promotion and Authorisation Centre (IN-SPACe), India's newly established space regulatory body, initiated the bidding process for the SSLV program in July. Qualified companies were invited to register their interest in participating.

Unlike the manufacturing contracts for the PSLV rockets, the SSLV program is set to be fully privatised, marking a first for India. The winning bidder or consortium will be responsible for taking over the entire program.