- 19 Sep 2024
- ICICI Securities
UNION CABINET APPROVED FOUR BIG-TICKET SPACE PROJECTS ON WEDNESDAY
News: The Union Cabinet has approved four big-ticket space projects on Wednesday. These include 1) next mission to the moon (Chandrayaaan-4) which will cost Rs 2,104 crore including spacecraft development, two LVM3 launches, deep space network support, and special tests. 2) a mission to the planet Venus which will cost Rs 1236 crore with an aim of Mar 2028 launch, 3) follow-ups to the ongoing Gaganyaan mission and 4) setting up of an Indian Space Station (Bharatiya Antariksh Station (BAS) at the cost of Rs 20,193 crore with a deadline of Dec 2029. The govt has also given the green light for the development of India's Next Generation Launch Vehicle (NGLV) - Soorya. The NGLV represents a major leap in India's launch capabilities, boasting a payload capacity three times that of the current LVM3 rocket while only increasing costs by 50%
Views: Hindustan Aeronautics (HAL) and Larsen & Toubro (L&T) are involved in manufacturing of crew modules (for Gaganyaan mission). HAL is also involved in manufacturing of lander and key mechanical support equipments for Chandrayaan mission. Companies like Bharat Electronics (BEL), Astra Microwave, Data Patterns, MTAR are also expected to benefit from the ambitious space programs.
Impact: Positive