Singapore to launch national space agency to capture piece of US$1.8 trillion global market

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.Minister-in-charge of Energy and Science and Technology Tan See Leng announced that the city state will set up a national space agency in April. Photo: Jean IauThe 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.