Singapore Increases Space Technology Investment to be Ahead in the Global Space Race

Recently, Singapore has taken quite a big step in space technology! The government announced an additional S$60 million investment, extending this year’s budget over the next two years for expanding space. This is part of a global trend toward rapid space development.

The Growing Space Industry in Singapore

In 2022, Singapore allocated S$150 million for space research, leading to 14 patents related to space. Now, more investments mean that Singapore will become one of the major players in the global space economy.

“Singapore has the potential to be a global hub of space technology by using our strong business, industry, and research networks to focus on economically and strategically valuable projects while we build stronger global partnerships.”  –Trade and Industry Minister Gan Kim Yong 

Currently, Singapore has 70 space-related companies and 2,000 strong professionals and researchers. Many satellite powers have their regional headquarters in Singapore.

A World Growing in Space Economies

The space industry is fast growing! It was expected to grow from US$630 billion in 2023 to US$1.8 trillion in 2035- and now Singapore is ensuring that it stays ahead of the game here.

As part of this growth, a radar satellite company, LeoLabs, signed an agreement with ST Engineering Geo-Insights from Singapore. Their plan? To build Southeast Asia’s first space situational awareness center. This center involves controlling satellite functions and precautionary monitoring to prevent collisions in space.

Aside from the increased launching of satellites, more accidents also happen. The U.S. Government Accountability Office projected that by 2030, nearly 60,000 satellites could orbit the Earth, compared to just 6,000 in 2022.

This was one of the comments of Edward Lu, a former NASA astronaut who is now Chief Technology Officer at LeoLabs. Singapore is poised to lead in space safety since space traffic control “is not that different from aviation, in which tracking coordination becomes essential to avoid accidents.”

Singapore’s Big Potential in Space Tech

Like the semiconductor space, Lu believes that the same can apply to becoming a major player in space, taking advantage of talent and resources in the city. For instance, now, Singapore produces 10% of the chips and 20% of the global semiconductor manufacturing equipment. He thinks there is a similar opportunity this country could find in space technology.

This New Earth Observation Initiative

This Wednesday, the Office for Space Technology and Industry, under the Ministry of Defence, signed a cooperative agreement with the United Nations Office for Outer Space Affairs. The initiative will include: 

• Using satellite data to tackle climate and sustainability challenges
• Joint research projects
• Collaboration with global organizations such as the World Bank, World Economic Forum, and Mekong River Development.