Astronautical Society of India (ASI) made this announcement here today.
The award consists of a citation and Rs 1 lakh in cash, the ASI said in a statement.
Dr P P Mohanlal (IISU/ISRO) and BHVS Narayan Murthy (RCI/DRDO) have won the ASI awards for 2012 and 2013 respectively in rocket and related technologies, it said.
The Aryabhata Award, which is named after the fifth century Indian astronomer and mathematician and also in commemoration of the first Indian satellite Aryabhata, was launched on April 19, 1975.
The award is annually presented to an individual for outstanding lifetime contribution to the promotion of astronautics in India, it said.