L&T Drives Private Space Race with India's First Privately Built PSLV
L&T, partnering with HAL, is spearheading India's venture into private space exploration by assembling the country's first privately built PSLV, with a launch expected by mid-2025.
Published on March 28, 2025
Larsen & Toubro (L&T), India's largest private-sector defense manufacturer, is making strategic moves into the aerospace sector by focusing on launch vehicle and satellite manufacturing. In collaboration with Hindustan Aeronautics Limited (HAL), the company is assembling the country’s first privately built Polar Satellite Launch Vehicle (PSLV), a milestone that underscores India's broader initiative to reduce import dependency and boost private sector participation in space technology.
This ambitious project forms part of the government's wider plan to elevate India as a leading space power, targeting a commercial space market valued at $44 billion in the coming decade. The maiden launch of the private PSLV booster is slated for mid-2025, reflecting the increasing momentum in the private space arena as reported by multiple sources including Reuters, Business Standard, and The Economic Times.