Fri Mar 07 17:06:48 UTC 2025: ## L&T Bets Big on India’s Booming Aerospace Sector
**Bengaluru, March 7, 2025** – Larsen & Toubro (L&T), India’s largest private-sector defense manufacturer, is making a significant investment in the aerospace industry, aiming to capitalize on the country’s growing space program and reduced reliance on imports. The conglomerate’s Precision Engineering and Systems unit, which saw a 41% revenue increase in the 2024 fiscal year (reaching ₹46.10 billion or $548.3 million), is leading this expansion.
L&T is currently assembling India’s first privately built Polar Satellite Launch Vehicle (PSLV) at its Coimbatore facility, in partnership with Hindustan Aeronautics Limited. The company is also contributing to ISRO’s deeper space exploration projects. This strategic move aligns with the Indian government’s initiative to privatize the space sector, attracting foreign investment and shifting procurement budgets away from state-run enterprises.
According to L&T’s senior vice president AT Ramchandani, the company’s decades of experience in high-tech manufacturing makes it well-positioned to succeed in this market. He cited the projected $160 billion global launch vehicle market over the next decade, with India aiming for a $44 billion share of the commercial space sector. Currently, India’s space sector is valued at $13 billion (DAM Capital, February 2025).
The first privately built PSLV launch, originally scheduled for early 2025, is now expected by mid-year, with each rocket costing approximately $30 million. L&T aims to compete globally by offering timely, cost-effective launches, catering to the growing demand for satellite constellations. Ramchandani emphasized the company’s focus on providing reliability and cost advantages to establish India as a competitive player in the international aerospace market. This initiative underscores India’s ambition to become a leading space power, driving further economic growth.
First Piper 