Singapore can support global space industry as a geospatial data hub, says government space office
Rather than competing with other national programmes in the sector, the Republic can complement them with data analytics
[SINGAPORE] The Republic will further its space industry ambitions at next year’s inaugural space summit, aiming to attract investments and build a niche in geospatial data.
“With its potential to create high-value jobs for Singaporeans and help address global challenges like climate change, the space industry represents a driver of economic growth for Singapore,” said Jonathan Hung, executive director of the government’s Office for Space Technology and Industry (OSTIn), on Thursday (Aug 28).
Instead of competing with other countries’ major space programmes, the Republic can play a role in data analytics, he said at a media roundtable for the summit.
“(It) is an easier approach for our sector to support the wider space economy, because data insights and analytics is something that everybody is required to use.
“We want to be a geospatial hub for the region,” he added, referring to data gathered by satellites about locations on the ground.
Such data can help in tackling challenges such as the climate, water monitoring and disaster response.
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Ongoing efforts
In February, OSTIn announced an additional S$60 million in funding over the next two years for the Space Technology Development Programme, for research in satellite communications, remote sensing and space technologies.
The Earth Observation Initiative was also launched to tackle sustainability and humanitarian challenges in the Asia-Pacific using satellite technology. In May, it held its first open call, focusing on maritime and disaster relief efforts.
Singapore’s space industry includes about 70 companies across the value chain – from design and manufacturing to satellite-based services – employing around 2,000 professionals. Most of the world’s top 10 satellite service providers have their regional headquarters in the country.
Asked about the space sector’s output, Sia Kheng Yok, chief executive of the Association of Aerospace Industries (Singapore), or AAIS, said that it might be premature to talk about numbers as the sector is still at an early stage.
But Hung said the ecosystem “certainly has a good trajectory”.
Inaugural space summit
As part of efforts to attract space-related companies to Singapore, the inaugural annual space summit will be held from Feb 2 to 3 next year, in conjunction with the Singapore Airshow.
The global space economy reached the value of US$630 billion in 2023, and is projected to hit US$1.8 trillion by 2035.
The space summit aims to address this growth potential, said Leck Chet Lam, managing director of the summit’s organiser, Experia Events.
Officially endorsed by OSTIn, the summit will bring together national space agencies, policymakers, investors and industry players from around the world.
Comprising a conference and exhibition, it will address capability, regulatory and investment gaps. Key topics include satellite infrastructure, Earth observation and the future in-space economy.
The AAIS will facilitate the setting up of a Singapore pavilion, where exhibitors will showcase their technologies and capabilities. Exhibitors will be revealed at a later date, said Sia.
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