In a significant milestone for India’s burgeoning space industry, Union Minister of Science and Technology, Dr. Jitendra Singh, revealed Skyroot Aerospace’s Vikram-1 orbital rocket in Hyderabad on October 24th. The technologically advanced, multi-stage launch vehicle with a payload capacity of approximately 300 Kg to Low Earth Orbit is poised to revolutionize satellite deployment capabilities.
Pawan Kumar Chandana, the co-founder and CEO of Skyroot, emphasized the partly commercial nature of Vikram-1’s inaugural launch, with plans for a fully commercial launch slated for the latter half of 2024. This development marks a pivotal moment for the company, following the successful launch of the Vikram-S rocket on November 18th, 2022.
Vikram-1 stands out as a marvel of engineering, featuring an all-carbon-fiber body and 3D-printed liquid engines. Its design allows for the simultaneous placement of multiple satellites into orbit, a milestone not only for India but also on a global scale.
Chandana, while withholding the exact launch month, confirmed that the first full-fledged developmental test launch of Vikram-1-1 is anticipated in early 2024. This timeline assumes paramount significance in light of the evolving competitive landscape in satellite launches, with an influx of both global and local players expected by 2024.
In terms of funding, Skyroot has secured an impressive Rs 526 crore, providing financial stability for the company’s forthcoming launches. Of this, a substantial Rs 400 crore was raised just a year ago, underscoring the confidence investors have in Skyroot’s ambitious plans as a pioneering private space launch provider.
Dr. Jitendra Singh expressed his optimism for the growth of India’s space economy, citing projections that anticipate the industry’s value to surge from $8 million to potentially $40 million by 2040, with some even speculating it could reach $100 million by that time. This anticipated growth reinforces the significance of India’s strides in space technology and commercial space endeavours.
Inaugurating Skyroot Aerospace’s new global headquarters, named MAX-Q, Dr. Singh unveiled a state-of-the-art facility in Hyderabad. MAX-Q, the country’s largest private rocket development facility under a single roof, encompasses integrated design, manufacturing, and testing facilities for space launch vehicles.
Spread across an expansive 60,000 square feet of built-up area, MAX-Q can comfortably accommodate Skyroot’s 300-member strong workforce, with plans for future expansion already in motion. The headquarters showcases a futuristic space theme, emblematic of Skyroot’s commitment to pushing the boundaries of space technology.
With the unveiling of Vikram-1 and the establishment of MAX-Q, Skyroot Aerospace has not only etched its mark in India’s space industry but has also set a new benchmark for private space exploration endeavours on the global stage. The anticipation surrounding the full launch of Vikram-1 in 2024 underscores the company’s potential to be at the forefront of the next era in space technology.
