L&T Bets Big on Aerospace: Aiming for the Stars

Larsen & Toubro is expanding into the aerospace industry, focusing on launch vehicle and satellite manufacturing. As India promotes privatization and reduces import reliance, L&T's Coimbatore factory is building the first privately made PSLV. The company aims to bolster its space business and compete globally.

Larsen & Toubro is making strategic moves into the aerospace sector, aiming to leverage its expertise in high-tech manufacturing and expand in launch vehicle and satellite production. This shift aligns with India's endeavor to reduce dependence on imports and foster private sector participation.

L&T, India's largest private defense manufacturer by revenue, is collaborating with Hindustan Aeronautics Limited to assemble the first privately built Polar Satellite Launch Vehicle at its Coimbatore facility. This project highlights the company's readiness to become a major player in the global space industry, as India liberalizes regulations to welcome private companies into the sphere.

With an eye on the global market, L&T's venture is part of India's greater goal to emerge as a powerhouse in the commercial space sector. Ramchandani, a senior L&T executive, emphasized the potential for competitive, cost-effective launches by mid-2025, aiming for a substantial share of the projected $160 billion global launch vehicle market.

(With inputs from agencies.)