Singapore Aerospace and Technology Company announced its transformation into the Singapore Space and Technology Think Tank. It also launched two initiatives to promote the commercialization of space technology in Asia and accelerate the cross-industry application of space technology.
Singapore Aerospace and Technology Company made this announcement on the 27th. It said that with the continuous growth in the application of earth observation technology in the Asia-Pacific region, this field is expected to generate up to 619 billion USD (2.62 trillion MYR) in economic value in the region by 2030.
The chairman of the think tank, Dr. Jay Saikia, former deputy chief scientist of NASA, said, "Asia has always been a silent strong player in the space sector. Now, we have reached a critical development juncture. The establishment of the think tank is a signal and a solution. We will drive tangible commercial outcomes, making space technology a part of mainstream business strategy."
Other members of the think tank council include former Georgetown University research professor Dr. Hakindawe, Japanese space entrepreneur Hide Aoki, founder of a European satellite company Johnson, and Deloitte Space Partner Ben Maude.
The space sector in Singapore has been continually developing in recent years. Since 2011, Singapore has launched 30 satellites, and by 2027, at least 9 more satellites are expected to be deployed. The local area currently also has more than 2,000 industry professionals from over 70 companies.