India: First private space company plans to launch satellite at half the cost in 2023

India: First private space company plans to launch satellite at half the cost in 2023

By the middle of the decade, Space One in Japan hopes to launch 20 mini rockets annually with support from Canon Electronics and IHI Corp.

The creators of Skyroot Aerospace, the company responsible for India's first private space launch, told Reuters in an interview that they aim to be able to launch a satellite into orbit in 2023 for half the price of more experienced launch companies, as reported by Reuters.

The Hyderabad-based company says the $68 million it has raised will pay for its upcoming two launches and is sponsored by Singapore's GIC sovereign wealth fund. According to Skyroot, it has spoken with more than 400 prospective clients.

As businesses expand their networks to provide broadband services like SpaceX's Starlink and to power applications like tracking supply chains or monitoring offshore oil rigs, thousands of small satellite launches are anticipated in the upcoming years.

Rivals for rocket launches that compete with Skyroot include both well-known and emerging companies that promise to reduce prices. Galactic Energy, a Chinese firm, successfully launched four satellites last week, placing five of them in orbit.

By the middle of the decade, Space One in Japan hopes to launch 20 mini rockets annually with support from Canon Electronics and IHI Corp.

India: First private space company plans to launch satellite at half the cost in 2023
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However, Skyroot, which successfully launched a test rocket last week, anticipates that its prices would be 50 per cent lower than those of well-known rivals like Richard Branson's Virgin Orbit and California-based Rocket Lab USA Inc.

One of Skyroot's two co-founders, Pawan Chandana, told Reuters that if the company succeeds with the launches planned for next year, there will likely be a spike in demand for its launch services.

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