Hindustan Aeronautics Limited (HAL) has secured the winning bid to manufacture India’s Small Satellite Launch Vehicle (SSLV), the Indian National Space Promotion and Authorization Center (IN-SPACe) announced on Friday. HAL’s stock responded positively to the news, rising 1.54% to ₹4,977.60.
With a winning bid of ₹511 crore, HAL acquired the rights to not only build but also own and commercialise SSLV launches. This marks the first strategic transfer of rocket technology under the Indian government’s new space policy aimed at liberalising the sector.
In a competitive bidding process that initially drew interest from nearly 20 companies, HAL outpaced consortiums led by Adani Group’s Alpha Design and Bharat Dynamics Ltd. Notably, HAL applied as a solo bidder, distinguishing itself from others.
The SSLV is designed to carry payloads of up to 500 kg to low-Earth orbit and is positioned to meet the growing global demand for small satellite deployment. Pawan Goenka, Chairperson of IN-SPACe, noted that this move represents a key milestone in building a vibrant commercial space ecosystem in India.
Globally, the low-Earth orbit launch vehicle market was valued at $13.9 billion in 2023 and is expected to triple to $44 billion by 2032, according to Global Market Insights. India, which currently holds just 2% of the global space economy, is targeting a significant leap—from $8 billion to $44 billion—by 2030.
HAL’s win is being seen as a major development in India’s ambitions to expand its space sector and become a competitive player in the international satellite launch market.
