The world salutes ISRO, keeping an eye on ISRO's large share in global satellite launch markets

The Indian Space Research Organization's (ISRO) heaviest rocket LVM3-M2 on Sunday successfully placed 36 broadband satellites of a British company OneWeb into designated orbits in space, in its maiden mission. With this, ISRO is eyeing a large share of the global satellite launch market.

A recent report by the Indian Space Organization (ISPA) and Ernst & Young stated that the global space economy is worth $447 billion, with the satellite launch market size at $6 billion. ISRO's Polar Satellite Launch Vehicle (PSLV) is generating millions of dollars in revenue for the agency in terms of rocket business and thus has made a mark in the field of satellite launch.

With the LVM-3 rocket capable of delivering 10 tonnes of payloads (satellites of mass) to low earth orbits, ISRO now plans to launch more heavy satellites or several smaller satellites. The 36 satellites launched on Sunday for OneWeb weighed over 5.7 tonnes and ISRO plans to send another group of 36 satellites into space in February next year. "The next LVM-3 will be ready by February 2023, when we have another launch plan for OneWeb," ISRO Chairman S Somnath said.

OneWeb Limited is a global communications network operating in the space sector, providing Internet connectivity to governments and industries. Bharti Enterprises is a major investor in OneWeb. With Sunday's success, ISRO has left behind its August 7 failure, when the agency's first Small Satellite Launch Vehicle (SSLV) suffered a data loss in the terminal stage and lost communication.