Insider Brief
- Singapore is increasing its investment in the space tech sector with an additional $60 million, pushing the total funding for its Space Technology Development Programme (STDP) to over $200 million.
- This initiative, led by the Office for Space Technology and Industry (OSTIn) and the National Research Foundation will support both the research ecosystem and the commercialisation of space tech, strengthening Singapore’s position as a key player in the global space economy with a particular focus on satellite technology.
- At the 17th Global Space Technology Convention and Exhibition in Singapore, Deputy Prime Minister Gan Kim Yong highlighted the practical applications of space-based communications.
Singapore is increasing its investment in the space tech sector with an additional $60 million, pushing the total funding for its Space Technology Development Programme (STDP) to over $200 million according to recent reports. This initiative, led by the Office for Space Technology and Industry (OSTIn) and the National Research Foundation, aims to accelerate space-related innovations, particularly in satellite technology. The funding will support both the research ecosystem and the commercialisation of space tech, strengthening Singapore’s position as a key player in the global space economy.
At the 17th Global Space Technology Convention and Exhibition in Singapore, Deputy Prime Minister Gan Kim Yong highlighted the practical applications of space-based communications, including the potential to improve port operations and enhance air traffic safety. He pointed to space-based Very High Frequency (VHF) voice communications as an example, which would provide better coverage for pilots and air traffic controllers in remote areas, improving safety and efficiency.
In his remarks, DPM Gan also noted that Singapore is home to over 70 space companies, including the regional headquarters of many top satellite service providers. The space sector has grown rapidly, with local companies like Addvalue Technologies and Equatorial Space Systems making strides in satellite communications and rocket propulsion. With a workforce of 2,000 professionals in engineering, research, and business roles, Singapore’s space tech ecosystem is well positioned to contribute to the expanding global space economy, which is expected to reach $1.8 trillion by 2035.
The new funding is part of a broader effort to bolster Singapore’s space industry, aligning with global trends. Singapore’s strategic location and expertise in aerospace, microelectronics, and precision engineering make it a strong contender in the space sector. Additionally, the government’s recent memorandum of understanding with the United Nations Office for Outer Space Affairs aims to enhance international collaboration through satellite data sharing and joint research projects.
As part of its ongoing commitment to sustainability, Singapore has launched the Earth Observation Initiative, focusing on using satellite technology to address challenges like food and water quality, disaster monitoring, and climate change. DPM Gan emphasized the country’s role in the global transition to a low-carbon future, even though it contributes less than 1% of global emissions.
Looking ahead, Singapore plans to expand its international partnerships to further drive innovation in space tech. In addition to ongoing collaborations with the European Space Agency and India’s National Space Promotion and Authorization Centre, the country is positioning itself as a central hub for space industry development in Asia.
Share this article:
