Singapore is boosting its space technology programme with an additional S$60 million investment over two years, following a previous commitment of S$150 million in 2022. The country aims to become a key hub for the global space economy by leveraging its strengths in business, industry, and research ecosystems. With about 70 space companies and over 2,000 professionals and researchers, Singapore is well positioned to capitalize on the projected growth of the global space economy to US$1.8 trillion by 2035.
One significant development is an agreement between US-based radar satellite company LeoLabs and ST Engineering’s Geo-Insights to explore building a radar and the region’s first space situational awareness center. This center will help protect satellites from collisions and debris in space, positioning Singapore as the regional leader in tracking objects in space and providing warnings to other countries operating satellites in the region.
Trade and Industry Minister Gan Kim Yong highlighted the importance of focusing on relevant use cases with economic and strategic value and strengthening international partnerships to drive Singapore’s space technology programme forward. With 14 space-related technology patents filed by local entities, Singapore is on track to play a significant role in the global space industry. The country’s continued investment and partnerships in space technology demonstrate its commitment to innovation and growth in the sector.
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