Singapore’s space technology dreams to take flight with US$45 million development boost
Singapore is set to invest an additional S$60 million (US$45 million) over the next two years to bolster its space technology program. This commitment aims to capitalize on the rapidly growing global space economy, projected to reach US$1.8 trillion by 2035, and solidify Singapore's position as a key hub for space innovation and impact.
The investment builds upon a previous S$150 million commitment in 2022, which has already resulted in 14 space-related technology patents filed by local entities. Furthermore, a recent agreement between LeoLabs and ST Engineering's Geo-Insights signals Singapore's ambition to become a regional leader in space situational awareness, potentially establishing the region's first center to protect satellites from collisions and debris.
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Singapore is set to invest an additional S$60 million (US$45 million) over the next two years to bolster its space technology program. This commitment aims to capitalize on the rapidly growing global space economy, projected to reach US$1.8 trillion by 2035, and solidify Singapore's position as a key hub for space innovation and impact.
The investment builds upon a previous S$150 million commitment in 2022, which has already resulted in 14 space-related technology patents filed by local entities. Furthermore, a recent agreement between LeoLabs and ST Engineering's Geo-Insights signals Singapore's ambition to become a regional leader in space situational awareness, potentially establishing the region's first center to protect satellites from collisions and debris.
via SCMP Full Text Feed
