India’s moon landing made history on a relatively small budget

Credit Cards
Loans
Banking
Mortgages
Insurance
Credit Monitoring
Personal Finance
Small Business
Taxes
Help for Low Credit Scores
Investing
SELECT
All Credit Cards
Find the Credit Card for You
Best Credit Cards
Best Rewards Credit Cards
Best Travel Credit Cards
Best 0% APR Credit Cards
Best Balance Transfer Credit Cards
Best Cash Back Credit Cards
Best Credit Card Welcome Bonuses
Best Credit Cards to Build Credit
SELECT
All Loans
Find the Best Personal Loan for You
Best Personal Loans
Best Debt Consolidation Loans
Best Loans to Refinance Credit Card Debt
Best Loans with Fast Funding
Best Small Personal Loans
Best Large Personal Loans
Best Personal Loans to Apply Online
Best Student Loan Refinance
SELECT
All Banking
Find the Savings Account for You
Best High Yield Savings Accounts
Best Big Bank Savings Accounts
Best Big Bank Checking Accounts
Best No Fee Checking Accounts
No Overdraft Fee Checking Accounts
Best Checking Account Bonuses
Best Money Market Accounts
Best CDs
Best Credit Unions
SELECT
All Mortgages
Best Mortgages
Best Mortgages for Small Down Payment
Best Mortgages for No Down Payment
Best Mortgages with No Origination Fee
Best Mortgages for Average Credit Score
Adjustable Rate Mortgages
Affording a Mortgage
SELECT
All Insurance
Best Life Insurance
Best Homeowners Insurance
Best Renters Insurance
Best Car Insurance
Travel Insurance
SELECT
All Credit Monitoring
Best Credit Monitoring Services
Best Identity Theft Protection
How to Boost Your Credit Score
Credit Repair Services
SELECT
All Personal Finance
Best Budgeting Apps
Best Expense Tracker Apps
Best Money Transfer Apps
Best Resale Apps and Sites
Buy Now Pay Later (BNPL) Apps
Best Debt Relief
SELECT
All Small Business
Best Small Business Savings Accounts
Best Small Business Checking Accounts
Best Credit Cards for Small Business
Best Small Business Loans
Best Tax Software for Small Business
SELECT
All Taxes
Best Tax Software
Best Tax Software for Small Businesses
Tax Refunds
SELECT
All Help for Low Credit Scores
Best Credit Cards for Bad Credit
Best Personal Loans for Bad Credit
Best Debt Consolidation Loans for Bad Credit
Personal Loans if You Don't Have Credit
Best Credit Cards for Building Credit
Personal Loans for 580 Credit Score or Lower
Personal Loans for 670 Credit Score or Lower
Best Mortgages for Bad Credit
Best Hardship Loans
How to Boost Your Credit Score
SELECT
All Investing
Best IRA Accounts
Best Roth IRA Accounts
Best Investing Apps
Best Free Stock Trading Platforms
Best Robo-Advisors
Index Funds
Mutual Funds
ETFs
Bonds
The list is grim reading: Stuck, failed, missed, failed, failed, stuck, failed, crashed, missed, crashed, crashed.
Those were the fate of the Soviet Union's first 11 attempts before successfully landing a spacecraft on the moon, according to a database compiled by Jonathan McDowell, an astrophysicist at the Harvard-Smithsonian Center for Astrophysics who catalogues space missions.
Even in the modern era – with nine lunar landing attempts since 2013 – the track record is still shaky. Before India's success Wednesday, missions by China, India, Israel, Japan and Russia were three for eight in the past decade. McDowell's database gives a look at the monumental challenge undertaken by the 50 attempts to land on the moon so far, with a cheeky scoreboard that reads: Earthlings 23, Gravity 27.
India chocked up its first W against gravity on Wednesday, after the country's Chandrayaan-3 spacecraft safely landed on the lunar surface. The feat makes India the fourth country to successfully land on the moon, and the first to touch down near the lunar south pole.
They should feel very proud of this accomplishment, Jim Bridenstine, who led NASA as administrator from 2018 to 2021, told CNBC.
Sign up here to receive weekly editions of CNBC's Investing in Space newsletter.
Perhaps the most remarkable aspect of India's moon landing is the shoestring budget – by government standards – with which the country achieved the mission. In 2020, the Indian Space Research Organization (ISRO) estimated the Chandrayaan-3 mission would cost about $75 million. The launch was delayed two years, which likely increased the overall mission's cost. ISRO has not responded to CNBC's request for an updated figure on the Chandrayaan-3 mission's cost.
But that rivals even the most low-cost U.S. lunar lander missions in development. NASA in recent years turned to having companies compete for fixed-price contracts to build moon landers, under a program it calls Commercial Lunar Payload Services. The CLPS program has a maximum budget of $2.6 billion over 10 years, with 14 companies vying for mission contracts typically worth upwards of $70 million each.
Overall, NASA's budget dwarfs ISRO's. In 2023, the U.S. agency received $25.4 billion in funding, compared to the Indian agency's budget of about $1.6 billion. Bridenstine emphasized that NASA's much larger budget is a reflection of the different level of capability that the U.S. agency offers, with everything from a continuous astronaut presence in orbit to missions targeting planets, asteroids and more.
As a percentage of gross domestic product, the U.S. spends the most on space – although it's still just 0.28% of GDP. That ranks well ahead of India's 0.04% of GDP spent on space, according to a July report on the global space economy by the Space Foundation.
India should have in its ambitions the desire to invest more and more and develop the capabilities that are more on par with the United States, Bridenstine said.
India is increasingly seen as a top player in space geopolitically. While China succeeded Russia as the most significant rival to U.S. influence and capabilities in space, India may yet take that third spot in the space superpower hierarchy.
I would hope that they use [Chandrayaan-3] as an opportunity to capitalize on the success, Bridenstine said. They've got a big economy and they're going to be able to put money into space exploration.
Costs are going to continue to go down, which is a very positive development for everybody who's interested in space exploration, he added. And costs to get to the moon are going to go down, especially as we have more and more companies doing more and more missions.
Got a confidential news tip? We want to hear from you.
Sign up for free newsletters and get more CNBC delivered to your inbox
Get this delivered to your inbox, and more info about our products and services.
© 2023 CNBC LLC. All Rights Reserved. A Division of NBCUniversal
Data is a real-time snapshot *Data is delayed at least 15 minutes. Global Business and Financial News, Stock Quotes, and Market Data and Analysis.
Data also provided by