Who Won the Bid?
- Hindustan Aeronautics Ltd (HAL Bags) won the ₹5.11 billion ($59 million) bid.
- This is the largest move yet to open India’s space sector to private players.
What’s the Deal About?
- HAL Bags will build, own, and commercialize India’s Small Satellite Launch Vehicle (SSLV).
- SSLV can carry 500 kg payloads to low-Earth orbit (LEO).
- Goal: Make India a global hub for small satellite launches.
Impact on HAL
- HAL’s shares rose 1.6%, hitting a high of ₹4,980 after the news.
- HAL will offer competitive launch prices to both Indian and global clients.
Industry Background
- 3 Finalists: HAL, Adani Defence’s Alpha Design Technologies, and Bharat Dynamics.
- 20 companies initially showed interest in SSLV tech.
- Part of PM Modi’s policy to open India’s space economy.
Global Market Outlook
- The global LEO launch market was worth $13.9 billion in 2023.
- Expected to grow to $44 billion by 2032.
- India currently holds only 2% of the global space economy.
- Target: Grow India’s share 5x to $44 billion by 2030.
Other Developments
- HAL and Larsen & Toubro also have a contract to build larger rockets for ISRO.
First launch of those rockets is expected between October and December 2025.
Read More : Webb Telescope Discovers First Unknown Alien Planet & Get best deal on mCaffeine Coupon Code .