Indian Space Start-Ups Set to Boost Satellite Launch Market to ₹29,400 Crores by 2033
The satellite launch market in India is on the brink of a major growth spurt, with projections estimating its value will surge from ₹6,035 crores in 2022 to a staggering ₹29,400 crores by 2033. This significant rise is driven by the increasing demand for small satellite launches, as companies look to deploy satellites swiftly to meet the needs of applications like internet connectivity and earth observation.
India’s space ecosystem is witnessing a transformative phase with both government and private players gearing up to meet this demand. The Indian Space Research Organisation (ISRO) recently introduced the Small Satellite Launch Vehicle (SSLV), its latest satellite launch vehicle, which is designed specifically for commercialisation. Joining ISRO in this competitive space race are emerging private firms like Skyroot Aerospace and Agnikul Cosmos. Skyroot’s ‘Vikram’ and Agnikul’s ‘Agnibaan’ rockets are expected to vie for market share, offering rapid and cost-effective options for launching small satellites into orbit.
Lt. Gen. A K Bhatt (Retd.), Director General of the Indian Space Association, highlighted how the shift towards small satellite launch vehicles aligns perfectly with market needs. “Larger launch vehicles are available, but with the growing number of satellites being deployed, companies are looking for quicker and more flexible options. Small launch vehicles are tailor-made for this purpose,” Bhatt noted.
In this rapidly evolving market, Indian start-ups are playing a pivotal role. Companies like Pixxel and Satsure have ambitious plans to deploy constellations of small satellites. Pixxel, for instance, is looking to launch six hyperspectral satellites this year, with three set to be launched via SpaceX and the remaining three using ISRO’s launch vehicles. The small satellite market is expected to open up significant opportunities for home-grown launch solutions, offering a competitive alternative to global giants like SpaceX.
On the technical front, Skyroot Aerospace has made significant strides with the successful test of the Stage 2 engine, Kalam-250, which will power the Vikram-1 rocket. This engine will propel the launch vehicle from atmospheric space into the deep vacuum of outer space. Meanwhile, Agnikul Cosmos, incubated at IIT-Madras, is preparing to launch its orbital rocket, Agnibaan, next year.
ISRO’s SSLV program marks a crucial step towards mass-producing small rockets in India. Following the successful launch of the SSLV on August 16, ISRO Chairman S. Somanath announced that the development phase is now complete, and the rocket is ready for technology transfer to private industries for large-scale production. The Indian National Space Promotion and Authorization Center (IN-SPACe) is spearheading efforts to identify industry consortiums that can take up this technology transfer and scale the production of SSLVs over the next two years.
Somanath emphasized that the knowledge transfer goes beyond manufacturing and includes training private players in the processes and techniques involved in rocket building. “We are teaching them how to build the rocket,” he explained, adding that industries will have to pay a technology transfer fee and meet criteria such as manufacturing capability, facilities, and financial strength.
The Indian space sector’s rapid growth, supported by innovative start-ups and the strong foundation laid by ISRO, is set to position India as a formidable player in the global satellite launch market. As small satellites become the go-to solution for a range of applications, India’s launch vehicles are gearing up to capture a significant share of this expanding market.
