Singapore is boosting its space technology programme with a further S$60 million investment over two years, officials announced at the Global Space Technology Convention and Exhibition. This funding is in addition to the S$150 million commitment made in 2022 for research and development in space technologies, resulting in 14 patents being filed by local entities. Singapore aims to become a key hub for the global space economy by leveraging its strengths in business, industry, and research ecosystems and strengthening international partnerships.
The country is already home to about 70 space companies and more than 2,000 professionals and researchers, making it well-positioned to capitalize on the projected growth of the global space economy to US$1.8 trillion by 2035. One significant development is the agreement signed between LeoLabs and ST Engineering’s Geo-Insights to explore the creation of a radar and space situational awareness center. This center would help protect satellites in space by tracking objects and providing warnings to satellite operators in the region.
Overall, Singapore’s increased investment in space technology demonstrates its commitment to becoming a key player in the rapidly evolving space industry. With the potential to lead in tracking objects in space and providing warnings, Singapore is poised to play a significant role in advancing space technology and contributing to the growth of the global space economy.
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