NewSpace India Ltd (NSIL) along with the Indian Space Research Organization (ISRO) held a stakeholders conference to explore partnership options between NSIL and Indian Industry for manufacturing ISRO’s heaviest launcher Launch Vehicle Mark 3 (LVM3) in Bengaluru recently.
NSIL which is the commercial arm of ISRO said that the event brought together nearly 70 plus participants from over 30 companies to discuss and debate business partnership options.
The initiative was undertaken by NSIL and ISRO in light of the emerging global commercial Launch Service market needs especially for the LVM3 class of launch vehicle.
LVM3 presently has the capability to launch satellites of 4 tonne class in Geostationary Transfer Orbit (GTO) and 8 tonne in Low Earth Orbit (LEO).
“The need for the PPP mode of partnership with Indian industry for releasing more LVM3 to meet the global launch service demand is essential to stay competitive and relevant in the market. Towards this effort of NSIL and ISRO, Indian industries should come forward and become the risk sharing and investment partner as part of the programme,”NSIL said.
It added that the global launch service market assessment for the decade clearly indicates that there is enough demand for launching communication satellites in GTO and satellites for mega constellations in LEO.
NSIL also said that the LVM3 has a great potential and opportunity to capture this niche global launch service market in the coming years.
“NSIL has engaged the services of M/s IIFCL Projects Limited (IPL) to explore the potential PPP partnership options for LVM3 production through Indian industry,” it said.
