ISRO is preparing for a landmark year in FY27 with five commercial launches of its Small Satellite Launch Vehicle (SSLV), signalling India’s entry into a competitive small rocket market projected to reach $3.5 billion by 2033.

Alongside ISRO, private start-ups Skyroot Aerospace and Agnikul Cosmos are set to debut their first orbital rockets, marking a decisive shift in India’s space economy.

The Indian Space Research Organisation has confirmed plans to conduct five SSLV missions in FY27, nearly a decade after development began and four years after its maiden trial failed in August 2022.

The SSLV, designed to place small satellites into low-earth orbit, can carry either three satellites weighing up to 300 kg cumulatively or a single satellite of up to 500 kg into orbits of 500 km.

It is India’s smallest rocket, built for low-cost, rapid turnaround launches, and is expected to become a cornerstone of the country’s commercial space ambitions.

The SSLV program has already seen mixed results, with its first developmental flight failing to achieve orbit in 2022, followed by a successful mission in February 2023.

Since then, ISRO has improved the rocket’s design, including a lighter carbon-epoxy motor case for the third stage, which increases payload capacity by 90 kg. The latest static tests in December 2025 validated these upgrades, paving the way for operational deployment in FY27.

A major development in India’s space sector is the transfer of SSLV technology to Hindustan Aeronautics Limited (HAL).

In 2025, HAL won a ₹511 crore bid to fully own, build, and operate SSLV rockets, with production capacity projected at six to ten rockets annually. This move reduces dependence on ISRO and strengthens private participation in India’s launch ecosystem.

India’s broader space economy is expanding rapidly. According to the Department of Science and Technology, the sector generated $8.4 billion in revenue in 2025, accounting for about 2% of the global market.

Small rockets are expected to drive future growth, with projections estimating $3.5 billion in market value by 2033. This growth is fuelled by rising demand for cost-effective, on-demand launches of small satellites, particularly for communications and Earth observation.

Private start-ups are also stepping into the spotlight. Skyroot Aerospace’s Vikram-1, a carbon-composite, multi-stage orbital rocket capable of carrying 350 kg to low-earth orbit, has been flagged off to Sriharikota for a June 2026 launch.

This will be India’s first privately built orbital rocket, featuring 3D-printed engines and solid-liquid propulsion systems.

Agnikul Cosmos is preparing its Agnibaan rocket, a modular launch vehicle designed to carry around 100 kg payloads, with its first orbital attempt also expected this fiscal.

These launches mark the beginning of India’s private orbital capability, positioning the country alongside global players such as Rocket Lab and SpaceX.

Together, ISRO’s SSLV program and private sector initiatives represent a turning point for India’s space industry.

The combination of government-backed launches and private innovation is expected to accelerate India’s competitiveness in the global small satellite launch market, while also fostering domestic manufacturing and technological self-reliance.

Agencies