In a giant leap forward for India”s private space sector, Union Minister Dr. Jitendra Singh unveiled the Vikram 1 rocket, developed by Skyroot Aerospace. The inauguration ceremony was held at the company”s new headquarters, The MAX-Q Campus.

The Vikram 1 rocket is scheduled to launch in early 2024 and is capable of carrying approximately 300 kg of payload into low Earth orbit. Its 3D-printed liquid engines are a testament to India”s growing rocketry prowess.

The launch will also reinforce the possibilities of privatizing the Indian space industry, which is valued at $8 billion and could reach $40 billion by 2040. This growth potential provides ample opportunities for investors to leverage their technological advancements and entrepreneurial spirit.

Skyroot Aerospace successfully launched the Vikram-S rocket in November 2022. The company has raised over Rs. 500 crore ($66 million) in funding and has a workforce of 300 people. This has positioned Skyroot Aerospace as a major player in the space sector.

The company is capable of designing and developing rockets independently. It is also venturing into commercial satellite launches, having signed agreements with French satellite companies. Skyroot Aerospace is also working on cryogenic engines to launch additional versions of the Vikram Series.