In a landmark development for India’s space and manufacturing sectors, Hindustan Aeronautics Ltd (HAL) has secured a $61 million contract to acquire the Small Satellite Launch Vehicle (SSLV) from the Indian Space Research Organisation (ISRO). This contract, awarded through the Indian National Space Promotion and Authorisation Centre (IN-SPACe), makes HAL the first Indian company to own, manufacture and commercially operate an entire launch vehicle system.
HAL outbid Adani Defence-backed Alpha Design Technologies and Bharat Dynamics Ltd to win the deal, which includes complete transfer of technology from ISRO, covering the design, integration, testing, quality protocols, launch operations, and post-flight analytics for the SSLV. The contract is a major push for India’s “Make in India” programme and a significant step toward the privatisation of India’s space launch capabilities.
The deal provides for two initial prototype rockets to be manufactured and launched with ISRO’s support over the next two years. After that, HAL will independently produce and market the SSLV, targeting both Indian and global clients in the fast-growing small satellite launch segment. The SSLV is designed for rapid, low-cost launches of payloads up to 500 kg into low Earth orbit, making it ideal for commercial satellite operators.
With this acquisition, HAL enters a select league of aerospace firms globally that not only manufacture but also operate full launch systems. The SSLV deal is also expected to boost HAL’s commercial revenues, with an estimated earning potential of over $6.5 million per launch. Following the announcement, HAL’s stock price rose over 1.5 percent on the Bombay Stock Exchange.
This is the first time ISRO has completely transferred launch vehicle technology to a private Indian entity, reflecting the government’s drive to open up the space sector. India’s space economy, which currently accounts for just 2% of the global market, is projected to grow to $44 billion by 2032. HAL’s SSLV venture could play a critical role in expanding that footprint.
The development signals a broader trend of public-private collaboration in India’s high-technology sectors, with HAL now poised to offer end-to-end satellite launch services in a market traditionally dominated by state-run agencies.
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