New Delhi, June 20: Hindustan Aeronautics Limited (HAL) has won the bid to manufacture India’s Small Satellite Launch Vehicle (SSLV), according to an official statement issued on Friday. The Indian National Space Promotion and Authorization Centre (IN-SPACe) announced HAL as the recipient of the Small Satellite Launch Vehicle (SSLV) technology from ISRO. The development marks one of the most comprehensive technology transfers from ISRO, facilitated by IN-SPACe, to an Indian commercial entity to date, the statement said. The Technology Transfer Agreement will be signed among HAL, NewSpace India Limited (NSIL), ISRO, and IN-SPACe. The agreement encompasses extensive training and handholding of HAL personnel by ISRO teams, both at ISRO and HAL facilities, for the realisation and launch of two SSLVs in the next two years. Axiom Mission 4 Launch Postponed Again, NASA To Announce New Date for Indian Astronaut Shubhanshu Shukla-Led Flight to International Space Station. A thorough evaluation process was followed, with various technology and financial readiness levels under review. The process, which continued for several months, culminated in the financial bid evaluation, where HAL emerged as the highest bidder to acquire and operationalize SSLV technology, the statement explained. IN-SPACe chairman Pawan Goenka said, “Under this technology transfer agreement, HAL will have the capability to independently build, own, and commercialise SSLV launches.” “As India looks at realising the $44 billion space economy earmarked for 2033, it is imperative to enable a robust public-private-partnership model. The SSLV technology transfer marks a pivotal moment in India’s transformative commercial space segment, as this is one of the first instances of a space agency transferring complete launch vehicle technology to a company,” Goenka added. HAL will undergo rigorous handholding and training under ISRO at both ISRO’s and the entity’s facilities. This is aimed at realising the projected launch of two SSLVs from an Indian launch port. "We’re looking at completing this entire process within two years from the date of signing the Technology Transfer Agreement," said Rajeev Jyoti, Director, Technical Directorate, IN-SPACe. SpaceX Starship Explosion: Ship 36 Blows Up in Fiery Blast During Static Fire Test, Video Surfaces. HAL chairman D.K. Sunil said, “We’re looking forward to working closely under ISRO and IN-SPACe’s guidance to progress in phases and realise the end objectives. We’re confident of steering a cohesive ecosystem that enables more small satellite launches from India’s ports.”