A top official at the company stated that they are targeting 5% market share for satellite launch vehicles.
He said that the Department of Space’s draft policies, which allow private sector actors to participate in the program, were liberal and forward-looking.
The capital raised by Skyroot Aerospace in Hyderabad is approximately Rs.92 crore.It currently has about 100 employees.
In fact, Pawan Kumar Chandana (CEO and Chief Technology Officer) and Naga Bhharath Daka (COO, Head Avionics and GNC), were both co-founders of the company.
Three rockets are being developed by the company: Vikram 1, 2, and 3.
Skyroot Aerospace recently tested Dhawan-1, a cryogenic engine that was used to fix rocket Vikram-2 in its upper stage.
According to the company, Dhawan-1 was India’s first cryogenic rocket engine that has been privately designed and fueled with liquid natural gas (LNG), as well as liquid oxygen (LoX).
LoX and LNG are used at cryogenic temperatures to propel the engine.
These propellants are low-cost and high-performance, as well as green.
Chandana stated, “These rocket propellants are of the future.This test proves that we’re one of very few companies to successfully demonstrate this technology.”
Daka stated, “With this milestone we have successfully demonstrated all three propulsion technologies within our Vikram Series of space launch vehicle vehicles in the initial attempt.”
“The complex engine start and shut-off transients are perfectly smooth, combustion was very stable, and pressure was rock steady,” said V.Gnanagandhi, a Padma Shri awardee and Senior Vice President – Propulsion.
Welcoming the draft policies issued by DOS covering various segments of the space sector Chandana told IANS: “Separate policies for Space sector are required and are being built by IN-SPACe (Indian National Space Promotion and Authorization Centre — the sectoral regulator for private companies) under Department of Space.”
According to him, all the draft policies are liberal and forward looking.
Chandana said the IN-SPACe is being established at the optimum speed possible and hoped the company’s programme should not get delayed due to regulatory roadblocks.
On the market potential for the rocket makers, he said the global satellite launch services market is about $6 billion per year and is growing.
“Our goal is to achieve up to five per cent market share in a few years,” Chandana said.
He said the company is targeting a test launch to orbit by the end of 2022.
Skyroot Aerospace has signed an agreement with DOS so that it can access the facilities and expertise of ISRO towards the development and testing of subsystems/systems of its rockets.
(Venkatachari Jagannathan can be contacted at [email protected])
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