Singapore has announced it will invest an additional S$60 million over two years into its space technology programme, following an initial commitment of S$150 million in 2022. Trade and Industry Minister Gan Kim Yong emphasized the country’s potential to become a key hub for the global space economy, with strengths in business, industry, and research ecosystems. Singapore, already home to 70 space companies and more than 2,000 professionals and researchers, is well-positioned to capitalize on the projected growth of the global space economy to US$1.8 trillion by 2035.
In addition to the increased investment in space technology, Singapore signed an agreement with US-based radar satellite company LeoLabs and government-linked ST Engineering’s Geo-Insights to explore the development of a radar and the region’s first space situational awareness center. This center would help protect satellites in space from collision with other satellites and debris, positioning Singapore as a regional leader in tracking objects in space.
The announcement was made at the Global Space Technology Convention and Exhibition, emphasizing Singapore’s potential to contribute to the global space economy through innovation and strategic partnerships. With 14 space-related technology patents already filed by local entities, Singapore’s commitment to space technology is evident as it aims to leverage its strengths to drive economic and strategic value in the space industry.
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