Vikram-1 nears launch: Who's building India's next gen private rockets?

As Skyroot Aerospace prepares for Vikram-1, startups and defence giants alike are positioning themselves for India's growing commercial launch opportunity

India’s private space sector is poised for a major milestone with Skyroot Aerospace set to attempt the country’s first privately developed orbital launch with Vikram-1 later this month.

 

The Hyderabad-based firm on July 2 said it will attempt the launch between July 12 and August 4, subject to the completion of assembly and testing operations at the launch site in Satish Dhawan Space Centre at Sriharikota.

 

The mission follows Skyroot's successful launch of Vikram-S, India's first privately built rocket to reach suborbital space, in November 2022.

 

Skyroot, however, is not alone in the race. After India opened the space sector to private players in 2020, a handful of startups have begun developing their own launch vehicles, hoping to tap the growing global demand for small satellite launches.

 

 

Defence and aerospace behemoths such as Larsen & Toubro (L&T) and Hindustan Aeronautics Limited (HAL) are planning beyond supplying components, announcing plans to manufacture rockets and strengthen their presence in the country's commercial launch ecosystem.

 

The momentum comes as India seeks to expand its space economy from about $8.4 billion today to $44 billion by 2033. According to the Economic Survey 2025–26, the sector currently accounts for around 2 per cent of the global space economy, with future growth expected to be driven by launch services, satellite communications, earth observation, navigation and an increasingly vibrant private sector.

 

India's push to open the space sector to private companies mirrors a broader global shift towards greater commercial participation in launch services and other space activities.

 

Here's a look at some of the companies building India's next generation of launch vehicles, hoping to capitalise on the country’s burgeoning space launch economy.

 

Skyroot Aerospace

 

Founded in 2018 by former Isro scientists, Pawan Kumar Chandana and Naga Bharath Daka, Skyroot Aerospace became the first Indian private company to launch a rocket into space with the successful suborbital flight of Vikram-S in 2022. The company is now preparing to make history again with Vikram-1, India's first privately developed orbital launch vehicle, designed to place payloads of up to 350 kg into low-Earth orbit.

 

If successful, Vikram-1 would mark India's first privately executed orbital launch, positioning Skyroot among a small group of companies globally capable of developing and operating orbital rockets.

 

Skyroot became India's first space startup to reach a $1 billion valuation after raising $60 million from GIC and Sherpalo Ventures.

 

Agnikul Cosmos

 

Chennai-based Agnikul Cosmos is developing Agnibaan, a customisable small-satellite launch vehicle capable of carrying payloads of up to 300 kg to orbit. In 2024, it successfully conducted the country's second private rocket launch and became the first Indian startup to launch from its own privately built launchpad at Sriharikota.

 

The company is known for its largely 3D-printed semi-cryogenic engine and is working towards commercial orbital launch services for small satellites. It launched the world’s first rocket with a single piece 3D printed engine from Sriharikota in May 2024, which was designed indigenously.

 

Larsen & Toubro

 

Long associated with Isro as a supplier of launch vehicle hardware, propulsion systems and ground infrastructure, L&T is now looking to expand into rocket manufacturing as India's commercial space sector opens up.

 

The engineering major intends to leverage decades of aerospace sector expertise to support both government and commercial launch programmes, moving beyond its traditional role as a component supplier. L&T has long been involved in building key components for Indian missiles, Mars and lunar missions, satellites and artillery.

 

With private firms now eligible to design, build, and operate launch services, companies such as L&T are well-positioned to benefit from the growing demand for commercial satellite launches, according to Reuters.

 

Hindustan Aeronautics Limited

 

State-run HAL, best known for aircraft and defence manufacturing, has also announced plans to enter rocket manufacturing as it seeks to diversify its space business.

 

HAL has long manufactured structures and systems for Isro missions. Its expansion into launch vehicle production signals a broader push by public-sector aerospace companies to participate in India's emerging commercial launch market.

 

Along with L&T, HAL has been building the Polar Satellite Launch Vehicle (PSLV), a mainstay of Isro's satellite launch programme, through a consortium.

 

Together, startups and established aerospace manufacturers are changing India's launch ecosystem, signalling a shift from an Isro-led model to a broader commercial space industry.