After supporting ISRO’s space missions for over 50 years, India’s leading engineering company, Larsen and Toubro (L&T), is now targeting international projects, specifically the next iteration of the International Space Station.
L&T previously held discussions with Blue Origin, owned by Jeff Bezos, to provide launch capabilities and habitat solutions in space; however, those talks faced challenges. “Some elements of those discussions are still ongoing, but now with NASA. We are optimistic that when the US needs its next space station, Indian companies will be included in the supply chain,” said Vikas Khita, Vice President of L&T Precision Engineering and Systems.
Speaking at an industry event organized by Geospatial World, Khita also mentioned L&T’s interest in developing spaceports, manufacturing clusters, and space parks, particularly in light of the government’s initiative to open the space sector to private companies in 2020.
“We anticipate a fivefold increase in turnover in the space economy by 2033, with much of this growth coming from upstream and downstream sectors,” he added. L&T has contributed hardware to various ISRO projects, including Chandrayaan, Gaganyaan, and the Mars Orbiter missions.
The consortium of Hindustan Aeronautics Limited and L&T is also working on five Polar Satellite Launch Vehicles (PSLV), marking the industry’s first attempt at constructing rockets for the space agency. Additionally, L&T has shown interest in the Small Satellite Launch Vehicle (SSLV) as ISRO prepares to transfer technology of this new rocket to the private sector.
India aims to secure approximately 8% of the global space market by 2033, with the overall industry projected to reach around USD 1.8 trillion by 2035. The country’s space economy is expected to expand from roughly USD 8.4 billion to USD 44 billion by 2033.
