BENGALURU, Aug 25 (Reuters) - Larsen & Toubro and Hindustan Aeronautics are among companies vetted to potentially bid in India's efforts to privatise its small satellite launch rocket, a source told Reuters, as the government seeks more investment in the booming space market.
The Small Satellite Launch Vehicle (SSLV) was developed by the Indian Space Research Organisation (ISRO), the national space agency, as a low-cost means to launch satellites weighing up to 500 kg (1,102 lb) into low-earth orbit.
They serve a booming market to launch clusters of satellites for communications and data that SpaceX and rivals compete in.
India is aiming to increase its share of the global satellite launch market by fivefold within the next decade.
Under that contract, the companies will manufacture and deliver five Polar Satellite Launch Vehicles (PSLV) - often called ISRO's "workhorse" rocket.
Persons:
Larsen, Narendra Modi, Nivedita, Sharon Singleton
Organizations:
Toubro, Hindustan Aeronautics, Indian Space Research Organisation, ISRO, SpaceX, HAL, Launch, Indian, Thomson
Locations:
BENGALURU, India, Bengaluru