Singapore is set to establish a national space agency in April, a move that industry insiders believe will cement the city state’s role as a pre-eminent regional hub for extraterrestrial innovation.
The launch of the National Space Agency of Singapore (NSAS) aims to capture a slice of a global space economy projected to reach US$1.8 trillion by 2035, while capitalising on increasingly democratised access to orbit.
Tan See Leng, the Minister-in-charge of Energy and Science and Technology, announced the initiative on Monday during the city state’s inaugural space summit at the Sands Expo & Convention Centre.
According to Tan, the NSAS will allow the country to seize emerging opportunities, building on more than S$200 million (US$157 million) set aside from 2022 for research and development projects.
The new body is expected to expand the remit of the Office for Space Technology and Industry (OSTIn), which has operated under the Economic Development Board since 2013.
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