Forum: Invest in satellite technology to tap into growing space tech economy

The Space Generation Advisory Council describes Singapore’s space ecosystem as “relatively nascent”. Singapore, a global technological and innovation powerhouse, has long had the potential to pioneer the space technology industry; however, multiple factors held back its progression towards playing a prominent role in the domain.

With major players like the US, China and Russia predominantly at the forefront of efforts in space exploration and R&D – through the launching of rockets, establishing space observatories, commercialising space travel, and testing of technologies – Singapore, today, still lags behind.

The scarcity of land is Singapore’s main hindrance to participating in the space industry. The use of land resources is prioritised for vital sectors like public housing. This has left little land to spare for other complementary sectors like space. Regardless, I see Singapore’s participation in the space industry as still essential for the development of its complex smart city system, extending benefits beyond space exploration and R&D.

For instance, Earth observation utilises satellites to collect data about Earth. This data in the form of images and measurable parameters can be leveraged to help urban planners and policymakers make informed decisions.

Satellites can monitor land use patterns, forecast rising sea levels, give precise weather predictions, manage air, marine and ground traffic through real-time updates, monitor pollution levels, and manage waste disposal, enabling precise planning, and efficient allocation of resources and responding to emergencies. Satellite communication also boosts city connectivity and information flow. The global space tech economy is projected to rise to US$10 trillion (S$13.6 trillion) by 2030, driven by advancements in IT and fintech.

There are intersections with the digital economy through data analytics, artificial intelligence and communication. Singapore’s digital economy has seen strong growth and its longer-term outlook remains positive. It is already contributing to building a strong base for the space tech economy, showing even higher potential.

Singapore’s journey into the space industry may face challenges, but the potential benefits outweigh the obstacles. By investing in satellite technology, Singapore can not only enhance its smart city infrastructure but also tap into the burgeoning space tech economy, ensuring its continued leadership in innovation and sustainability on the global stage.

Merna Alzurikat

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