Hindustan Aeronautics Ltd Soars in Space: Wins SSLV Bid

Hindustan Aeronautics Ltd (HAL) has clinched a pivotal contract to manufacture India's small satellite launch vehicles, marking a significant stride in the government's efforts to involve private players in the burgeoning space sector, according to an announcement from the country's space regulator on Friday.

The win allows HAL to independently construct and commercialize launches of the Small Satellite Launch Vehicle (SSLV), typically used to deliver 500kg payloads to low-Earth orbit. The deal, anticipated to be around 3 billion Indian rupees, underscores India's ambition to expand its paltry 2% share of the global space economy.

This strategic move by HAL follows the broader framework of Prime Minister Narendra Modi's initiative to invigorate the private space market. As India aspires to increase its market to $44 billion by the end of the decade, the global low-Earth orbit launch vehicle market is projected to grow to the same threshold by 2032, establishing India as a formidable space player.

(With inputs from agencies.)