Approach:

Introduction: Provide recent context of SSLV-D2, define what a launch vehicle is

Body: Describe the evolution of our journey in the launch vehicles(LVs) in stages since the 50s. Mention arguments to support the importance of LVs in space, also provide limitations of LVs

Conclusion: Suggest a way forward to overcome limitations and develop further.

Answer:

A launch vehicle is a vehicle designed to carry a payload into space. It typically consists of a rocket and associated support equipment, used to lift satellites, spacecraft, or other payloads into orbit around the Earth or beyond.

Recently, India launched the Small Satellite Launch(SSLV) Vehicle-D2, the second demonstration flight of SSLV to capture the emerging small and microsatellite commercial market.

Evolution of India’s journey in launch vehicles-

1. The 1950s-1960s: India started its journey in space with satellite and launch vehicle programs using Soviet technology.
2. Satellite Launch Vehicle-3 (SLV-3) (1980): India's first successful experimental satellite launch vehicle, was used to put the Rohini satellite in orbit.
3. The Augmented Satellite Launch Vehicle (ASLV), 1983: Developed to augment the payload capacity to 150 kg, thrice that of SLV-3, but failed in its maiden flight. The third developmental flight, ASLV-D3 was successfully launched on May 20, 1992.
4. Polar Satellite Launch Vehicle (PSLV), 1994: PSLV emerged as a reliable and versatile vehicle earning the title of 'the workhorse of ISRO' through consistently delivering various satellites into low earth orbits as well as launching satellites in geosynchronous orbits like NaVIC constellation satellites.
1.  It is capable of placing multiple payloads into orbit, thus multi-payload adaptors are used in the payload fairing.
5. Geosynchronous Satellite Launch Vehicle(GSLV-2001): It places heavier satellites into geostationary orbit and communication satellites in geo-transfer orbit using the cryogenic third stage.
6. Geosynchronous Satellite Launch Vehicle(GSLV-Mark III 2014): India's largest and most powerful launch vehicle with the capability to launch 4-ton satellites.
7. Reusable Launch Vehicle-TD (RLV Technology Demonstrator) (2016): A first-of-its-kind experimental technology demonstrator vehicle to test and demonstrate recovery and reuse of a launch vehicle, reducing the cost and increasing efficiency.
8. Small Satellite Launch Vehicle (SSLV) (2018): A low-cost and reliable launch vehicle for small satellites.

New Launch Vehicles: India is continuously exploring new launch vehicle technologies, including semi-cryogenic engines, to advance its space capabilities

A launch vehicle plays an important role in a nation’s space journey:

1. Access to Space: Crucial for nations to access space for scientific, commercial, and military purposes. Example: India's Polar Satellite Launch Vehicle (PSLV) enabled the country to reach mars (Mangalyaan) through the use of a slingshot technique.
2. Independent Capabilities: Launch vehicles allow nations to be self-reliant in space, without relying on other nations for access. Example: China's Long March series of launch vehicles enable the country to access space independently.
3. Economic Development: Opportunities for commercial and economic growth through the sale of launches to other countries. Example: India also earns revenue by launching co-passenger satellites such as through PSLV-C45 into orbit.
4. Scientific Advancements: Launch vehicles are essential for scientific missions, such as space telescopes and interplanetary probes, that expand our understanding of the universe.
5. Strategic Importance: Launch vehicles provide a nation with the ability to launch military and intelligence satellites, which play a critical role in space warfare and national security.
6. National Prestige: They symbolize a nation's technological and scientific prowess. Example: India's successful launch of the GSLV Mark III has contributed to the country's prestige in the international community.
7. Global Cooperation: Launch vehicles can help build international cooperation in space exploration and utilization, fostering peace and mutual understanding among nations.

However, there are limitations to the importance of a launch vehicle:

1. Cost: They are expensive to develop, build and maintain, requiring significant financial resources. The cost of developing and launching a single Ariane 5 launch vehicle can run into hundreds of millions of dollars.
2. Limited Functionality: They only payloads into orbit and do not provide the necessary capabilities for sustained space missions. Example: The PSLV launch vehicle is not capable of transporting crew or performing in-orbit servicing and repair missions.
3. Complexity and technological limitations: Launch vehicles require complex technology and expertise to develop, build and operate, limiting their availability to only a few nations. India's initial reliance on Soviet technology for its launch vehicle created obstacles when it wanted to access cryogenic technology in the 1990s
4. Reusability: Launch vehicles are typically single-use and must be replaced after each mission, adding to the cost and resources required. Thus nations are working on reusable vehicle technologies, India also tested RLV-TD in 2016
5. Failure: They are subject to technical failure and can result in the loss of expensive payloads and scientific data.

However, these limitations can be overcome by innovation involving the private sector to contribute to the space developments as India has also started. Overall, advancements in space not only impact economic development but also strategic and security dimensions, and thus they cannot be ignored. Developing such a capability can ensure a guiding light for other emerging nations across the globe.