L&T Precision Engineering and Systems, a division of India’s largest engineering firm, Larsen and Toubro Ltd., is setting its sights on a role in the supply chain for the next United States space station, as reported by PTI on Sunday, October 6. Vice President Vikas Khitha indicated that Indian firms are expected to contribute to the supply chain for this project.
“Some remnants of that discussion continue till today but now with NASA. So, we are also hopeful that when the US requires its next space station, Indian firms will have a role to play in the supply chain,” Khita stated to the news agency.
Following the trading session on Friday, Larsen and Toubro shares closed at ₹3,490.75, reflecting a slight decline of 0.23 percent from the previous close of ₹3,498.80.
Khitha also mentioned the company’s ambitions to establish space ports, parks, and manufacturing hubs. These ventures are expected to gain momentum due to the government’s decision to open the space industry to private players in 2020. “In commercial terms, we are looking at a fivefold increase in turnover by 2033 in the space economy, with a significant portion of this growth anticipated from both upstream and downstream sectors,” he added.
Previously, L&T engaged in talks with Jeff Bezos’ Blue Origin for providing orbital launch capabilities and space habitat solutions, but those negotiations faced challenges. L&T is integral to the hardware production for every Indian Space Research Organisation (ISRO) project, including Chandrayaan, Gaganyaan, and the Mars Orbiter missions.
In partnership with Hindustan Aeronautics Limited (HAL), the L&T consortium is also working on producing five Polar Satellite Launch Vehicles (PSLV), marking the industry’s first venture into manufacturing rockets for ISRO. L&T Precision Engineering has expressed interest in the Small Satellite Launch Vehicle (SSLV), as ISRO prepares to transfer this new rocket technology to the private sector.
India aims to capture approximately 8 percent of the global space market by 2033, with the global space industry projected to reach nearly $1.8 trillion by 2035. The Indian space economy is expected to grow to $44 billion, up from its current valuation of about $8.4 billion by 2033.
