SINGAPORE (Dec 31): Singapore does not have a dedicated space agency, nor does it have a rocket launchpad. Yet, its space industry is taking off, led by a host of homegrown small and large companies. And that would significantly boost the small country’s interconnectivity and big data push as it aims to become a smart nation.

Prior to this year, most developments in this sector have been focused on earth observation purposes, say observers. For instance, ST Engineering Electronics’ TeLEOS-2 can perform all-weather round-the-clock monitoring. Now, start-ups are building everything from rockets to laser telecommunications in space.

These developments come on the back of several global trends. For starters, satellites are becoming cheaper and smaller, thanks to improving technologies. The race for big data and smart, interconnected cities has also spurred the commercialisation of space technology. About 75% of space activity globally involves commercial products and services. According to the Bank of America Merrill Lynch, the sector is projected to grow eight times over the next three decades to US$2.7 trillion ($3.7 trillion), up from just US$350 billion last year.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook