Singapore is expanding its space technology programme with an additional investment of S$60 million (US$45 million) over the next two years. This decision comes after the country’s initial commitment of S$150 million in 2022 for research and development in space technologies, resulting in 14 space-related technology patents being filed by local entities. Trade and Industry Minister Gan Kim Yong announced the new investment at the Global Space Technology Convention and Exhibition, emphasizing Singapore’s potential to be a key player in the global space economy.
With approximately 70 space companies and more than 2,000 professionals and researchers, Singapore is already a significant player in the space industry. The global space economy is projected to reach US$1.8 trillion by 2035, up from US$630 billion in 2023, presenting a significant opportunity for Singapore to capitalize on this growth. In addition to investing in space technology development, an agreement was signed between LeoLabs and ST Engineering’s Geo-Insights to explore building a radar and the region’s first space situational awareness centre. This center will help protect satellites in space from collisions with debris, positioning Singapore as a regional leader in tracking objects in space and providing warnings to other countries operating satellites in the region.
Singapore’s strategic investments in space technology demonstrate the country’s commitment to leveraging its strengths in business, industry, and research ecosystems to play a leading role in the global space economy and ensure the safety and sustainability of satellites in space.
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