The government and the year-old Australian Space Agency have very ambitious objectives. The aim is to greatly expand Australia’s space sector, tripling its contribution to national GDP to $12 billion and creating up to another 20,000 jobs, all by 2030.
Space Agency head Dr Megan Clark promised to report progress every two years.
In the executive summary to the Australian Civil Space Strategy 2019-2028, Clark said the agency also aims to stimulate at least a $1 billion pipeline of inbound capital investment in Australia’s civil space industry sector between 2019 and 2028.
Plus, it aims to achieve year-on-year growth of the Australian space sector exceeding 8.5 per cent and create a regulatory framework that ensures effective, efficient and safe space activities.
The agency also wants to get the space message out to at least 10 million Australians a year. This year, the Space Agency marked its first birthday. So, how are the plans proceeding?
Clark appeared before a Senate inquiry this week, acknowledging they had set ambitious goals.
She said there had already been some very positive signs.
Small and medium-sized enterprises (SMEs) in the space industry had grown by some 136 per cent in the past few years and international companies based in Australia had grown by 55 per cent.
“We are projecting greater than global GDP growth and greater than Australian GDP growth for the sector,” she told the committee.
“That is not unreasonable when we set it and certainly with what we are already seeing.”
Receive the latest developments and updates on Australia’s space industry direct to your inbox. Subscribe today to Space Connect here.