Singapore has announced a further injection of S$60 million (US$45 million) over two years into its space technology programme, on top of the S$150 million committed in 2022. This investment has already led to the filing of 14 space-related technology patents by local entities. With about 70 space companies and over 2,000 professionals and researchers, Singapore aims to become a hub for innovation in the global space economy.
Trade and Industry Minister Gan Kim Yong highlighted Singapore’s strengths across business, industry, and research ecosystems, emphasizing the importance of focusing on use cases with economic and strategic value while strengthening international partnerships. The global space economy is projected to grow to US$1.8 trillion by 2035, up from US$630 billion in 2023, presenting significant opportunities for Singapore to leverage this growth.
In addition to the increased investment in space technology, a partnership was announced between LeoLabs and ST Engineering’s Geo-Insights to potentially build a radar and the region’s first space situational awareness centre. This center would help protect satellites from collisions with debris in space, positioning Singapore as a leader in tracking objects in space and providing warnings to other countries operating satellites in the region.
With these initiatives and investments, Singapore is poised to take advantage of the booming global space industry and establish itself as a key player in the development of space technologies.
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