Published By : 25 Sep 2017 | Published By : QYRESEARCH
Australia has announced plans to set up its own space agency. Australia remains one of the few developed countries to not have its own space agency, but is now keen to make the most of the growing space industry and thus plans to establish and develop an indigenous space industry that can rival the best in the world.
Michaelia Cash, Australia’s acting Industry Minister, described the plans to set up the country’s own space agency as a crucial step in Australia capitalizing on the growth of the space industry. The space agency is also intended to be Australia’s front door for international engagement and a key part of its domestic coordination. Industry leaders in Australia are also hoping the space industry gives rise to several new jobs.
Growth of the Space Sector too Lucrative to Refuse
The space industry has grown rapidly in the last few decades, and has since transformed from a politically charged race to a commercial venture dominated by companies rather than countries. According to Australian officials, the value of the global space industry is more than A$400 bn (around US$318 bn), making it imperative that Australia get in to claim its share of the pie. Growth of the telecommunications sector in Australia will be helped by the establishment of an indigenous space agency, where the satellite launch industry has grown to become crucial economically.
Several emerging countries are making their presence in the space industry a key development agenda, leaving Australia in a no man’s land as a developed country without a space agency. The plans to establish one seem sure to be the first step in a long journey for Australia in the coming years.