Chandrayaan 3 and India’s Space Sector: Companies at the Forefront

India’s space venture is set to reach new heights today (July 14, 2023), when Chandrayaan 3 takes off. It is a mark of India’s growing technological capabilities in the field. The mission holds great significance as it aims to establish India as the fourth country in the world to successfully land a spacecraft on the moon’s surface. The mission’s success will add a glorious feather to India’s five decades of space research.

India’s lunar mission is likely to impact the overall Indian space sector, especially the companies that participated in the project. As our country emerges as a pioneering force in the space research domain, you may want to track companies critical to the success of India’s space ventures.

Companies that Contributed to Chandrayan 3

Larsen & Toubro Ltd.

Larsen & Toubro Ltd.’s stocks jumped 1% when the company announced that it had supplied critical components to India’s moon mission. On July 13, 2023, the shares gained 1.28% and were trading at ₹2485 per share. The company has revealed that it supplied critical components such as the middle segment and nozzle bucket flange and ground and flight umbilical plates for the Chandrayaan mission.

These components were manufactured in the company’s cutting-edge facilities in Powai and Coimbatore. 

It is not the first time L&T has been involved in India’s space mission. Previously, it had also supplied various hardware for Chandrayaan-1, Chandrayaan-2, Gaganyaan, and Mangalyaan missions.

Godrej Aerospace

Another company that is in focus right now is Godrej Aerospace after the company declared its role in Chandrayaan 3. Godrej Aerospace is a part of the flagship company Godrej & Boyce. Commenting on the topic, Maneck Behramkamdin, AVP & Business Head, Godrej Aerospace, said, ‘We take immense pride in our contribution to ISRO’s Chandrayaan 3 mission.’

Earlier, Godrej Aerospace had played critical roles in Chandrayaan 1 and Chandrayaan 2. For Chandrayaan 1, it was responsible for providing the Vikas engine, thrustors, critical parts for the remote sensing antenna, and the ground system antenna. For Chandrayaan 2, it supplied the L110 engine and CE20 engine for the launcher GSLV Mk III, thrusters for the Orbiter and Lander, and components for the DSN antenna. 

Godrej Aerospace has played an integral part in India’s space research programs for a long time. In the last three decades, it has supplied 175 engines for the Polar Satellite Launch Vehicle (PSLV).   

Besides L&T and Godrej Aerospace, two other Hyderabad-based companies have played critical roles in the mission. Sri Venkateswara Aerospace has contributed to the building of the structural parts, including the release mechanism of Mark-11 for the project. And Naga Sai Precision Engineering Works was responsible for supplying an aluminium alloy case for protecting lithium-ion batteries.

An Overview of the Indian Space Sector

• India has decided on a roadmap to become one of the top countries in space exploration and research.
• In the Union budget of 2022-23, the government has earmarked $137 billion for the Department of Space.
• India is recognised for building cost-effective satellites and offering affordable satellite launching services to other countries. 
• Currently, India contributes 2-3% to the global space economy, which is expected to rise to 10% by 2030. 
• There are collaborations between government agencies and private companies to accelerate the space mission. The government is engaging with private sector companies for the manufacturing of parts and critical components for satellites and their launchers.
• There are about 140 registered space start-ups in India, developing technologies for real-world uses, stand to gain from the impetus provided by the success of Chandrayaan 3. 

Final Words

Chandrayaan 3 mission will potentially boost the economy. It will attract a lot of investment to the sector for potentially larger returns. India’s latest space mission signifies the country’s remarkable progress in space exploration and technology. The effort will open a vast horizon for opportunities for Indian private space sector companies.

Disclaimer: This article has been written for educational purposes only. The securities quoted are only examples and not recommendations.