HomeSpaceSpace Sector Soars: New Initiatives & Growth On Horizon

Space Sector Soars: New Initiatives & Growth On Horizon

Published on

spot_img

Singapore’s space sector is set for a major expansion, with new initiatives and innovations expected to drive growth in the coming months, according to the Office for Space Technology & Industry (OSTIn). A newly launched Earth observation project, nearly a year in the making, marks a key milestone in the country’s ambitions to use satellite technology to tackle real-world challenges.

Developed through close collaboration between space industry partners, the initiative focuses on addressing climate change, disaster response, agricultural productivity, and the spread of waterborne diseases. Organisations behind the effort believe satellite data can deliver critical insights to help mitigate these global issues.

The local space industry is growing rapidly, with more than 70 companies now employing around 2,000 people. Many firms are scaling up their capabilities in connectivity and remote sensing, positioning the sector for further expansion.

Supporting this momentum is a $60 million investment in research and development, which has already led to the creation of new technologies and services. These will be showcased at an upcoming space summit, ahead of the sector’s inaugural satellite launch planned for February.

Jonathan Hung, Executive Director of the Office for Space Technology & Industry (OSTIn), said the organisation is working to position Singapore as a regional hub for space activity.

About the speaker:

Jonathan Hung Executive Director Office for Space Technology & Industry

Jonathan Hung is an experienced senior executive with a strong background in the aerospace, space, and defence industries. He currently serves as Executive Director at the Office for Space Technology & Industry, a position he has held since November 2023. Prior to this, Hung led advanced innovation at Flex and held key roles at organisations like the Singapore Space and Technology Association and the Singapore Economic Development Board. His career demonstrates extensive expertise in strategic planning, business development, and government relations. Hung also holds degrees from Embry-Riddle Aeronautical University.

5W1H summary

CategoryPointers
Who1. Jonathan Hung, EDB
2. 70 space companies
3. Regional space agencies
What1. Earth observation initiative
2. Developing local space industry
3. Being regional space hub
When1. Next few months (exciting)
2. Satellite missions 1-2 years
3. EO platform 3-5 years
Where1. Trusted hub for connectivity
2. Very low earth orbit
3. Regional hub for Asia
Why1. Solve real-world problems
2. Up-level humankind
3. Commercialise core technologies
How1. Partnering with space agencies
2. $60M R&D injection
3. Leveraging aviation maritime strengths

Frequently Asked Questions

Q1: What is the focus of the new Earth observation initiative? A1: The Earth observation initiative focuses on solving real-world problems using satellite technology in areas such as climate change, disaster management, food crop management, and waterborne disease monitoring.

Q2: How many companies are currently in the local space sector? A2: There are currently 70 companies within the space sector, employing about 2,000 individuals, with more expected to join and the sector poised to grow.

Q3: What role does the organisation play in the global space sector? A3: The organisation aims to be a regional hub in space, leveraging its strengths as a trusted hub for connectivity and commercialising core technologies to transform companies into world-leading players.

Q4: What are the long-term outcomes for the space sector? A4: Long-term outcomes include building the industry to an equivalent bench strength as a regional hub in connectivity, remote sensing, and technological developments, with a specific focus on very low earth orbit technologies.

Q5: When will new satellite missions launch? A5: New satellite missions are planned for launch in the next one to two years, which will clearly demonstrate the outcomes of their work in very low earth orbit technologies.

Q6: How much has been injected into Research & Development (R&D) for the space sector? A6: A $60 million injection has been made into R&D efforts, which has translated into new ideas and capabilities to be shared at an upcoming space summit and an inaugural launch in February.

Transcript of the Background Briefing

Space is an exciting sector to be in especially for the next couple of months. We have quite a few efforts ongoing. One example just to name a few is we launched recently an earth observation initiative. That actually is a culmination of almost a year’s work putting together partners in space trying to solve real world problems leveraging satellite technology. Let me try and unpack that. Effectively we are focusing on a few thematic core areas solving issues that different types of satellite technologies can tackle in the areas of climate change, in the areas of disaster management, food crop management, waterborn disease monitoring, anything else in between. These are areas that we believe satellite technology can make a difference and really up level humankind. Another area is our development of our local industry. Happy to share that with our companies scaling up and today we have 70 companies within the space sector, more to come. Employing about 2,000 individuals. This sector is poised to grow with companies that have scaled up in areas of connectivity remote sensing and different technologies that we feel will make a difference. And we have also done R&D efforts as well our trust as we shared earlier with the injection of $60 million. This has also translated to new ideas and new capabilities that we’ll be sharing towards our space summit that will kick off as well as an inaugural launch in February.

Right. And can you thank you for the unpacking? Wow, there’s a lot to go through. But can you pinpoint exactly what does EDB bring to this conversation that you think will make us successful?

Well, one thing that I think we have always doubled down on is a trusted hub. is a trusted hub for connectivity to make sure that we demonstrate growth in sectors and commercializing our core technologies and translating companies into worldleading players. So we want to be a regional a regional hub of hub in space leveraging on our strengths. I think today has already certain leading capabilities in the aviation sector and the maritime sector connectivity is something that we bring to the table and that’s something that we feel companies and anybody that wants to land for the rest of Asia can trust that we will deliver.

And what sort of outcomes are you looking for longterm as they may be? How will you know that you’re successful in this?

Well, if we crystal ball into the future 5 10 years out. The space sector certainly does evolve. We evolve along with it. We believe that at least building our industry to something that is of equivalent bench strength to be a regional hub. In some of these areas that we highlighted before in connectivity in remote sensing in technological developments in satellites would be something that will be gamechanging. We focus very much on the specific areas of very low earth orbit technologies which we have doubled down on and maintained. It takes years to grow and we can safely say and I’m happy to announce that our satellite missions will be launching in the next one to two years that will clearly demonstrate these outcomes. Another aspect is in satellite insights. So data insights. The earth observation initiative that we launched will truly become a community platform in the next 3 to 5 years where we will onboard additional space agencies from the region. Industries from all over the world are welcome to participate and we will expand the 15 that we have the potential 35 to 40 in the coming 3 to four years.

Latest articles

EDB: AI Accelerator Boosts Local Firms

Microsoft and Digital Industry Singapore (DISG) have jointly launched the Agentic AI Accelerator program....

Tourism: STB Inks IndiGo Deal to Boost India Tourism

Singapore is actively boosting its tourism sector. A primary focus is attracting regional travellers....

Computer Weekly: Tech Giant Launches First AI Research Facility in Southeast Asia

Microsoft unveiled its inaugural Southeast Asia research laboratory, establishing a strategic hub for artificial...

The Daily HODL: Asia-Pacific Bonds Soar as Investors Flee Dollar Assets

Asia-Pacific companies and non-federal issuers are selling local-currency bonds at a record pace. This...

More like this

EDB: AI Accelerator Boosts Local Firms

Microsoft and Digital Industry Singapore (DISG) have jointly launched the Agentic AI Accelerator program....

Tourism: STB Inks IndiGo Deal to Boost India Tourism

Singapore is actively boosting its tourism sector. A primary focus is attracting regional travellers....

Computer Weekly: Tech Giant Launches First AI Research Facility in Southeast Asia

Microsoft unveiled its inaugural Southeast Asia research laboratory, establishing a strategic hub for artificial...