Singapore to launch national space agency to capture piece of US$1.8 trillion global market
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Singapore will launch the National Space Agency of Singapore (NSAS) in April to capitalize on the growing global space economy, projected to reach US$1.8 trillion by 2035. Announced by Minister Tan See Leng at the city-state's inaugural space summit, the NSAS aims to solidify Singapore's position as a regional hub for space innovation. The agency will build upon existing investments of over S$200 million in space research and development since 2022. The NSAS will expand the role of the current Office for Space Technology and Industry (OSTIn), which has been operating under the Economic Development Board since 2013. The initiative seeks to leverage increasingly accessible opportunities in space exploration and development.
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