Press Release
26 February 2025
The Office for Space Technology & Industry (OSTIn) today launched Singapore’s Space Sector: Next Bound of Development1, a strategy to grow Singapore’s nascent space industry and research ecosystem, at the Global Space Technology Convention & Exhibition (GSTCE) 2025.
The rapidly growing global space economy is expected to triple in size and reach US$1.8 trillion by 2035, up from US$630 billion in 20232 . As a leading global hub for businesses and space-adjacent sectors such as aerospace, microelectronics and precision engineering, Singapore is well-placed to capitalise on global momentum and capture economic value in the space sector. This includes the use of space technologies to enhance communications and connectivity services, as well as to drive innovation in the green and digital economies.
The three thrusts of the new strategy are:
a. Growing Singapore’s Space Sector
Building on Singapore’s existing strengths in business, talent and innovation, Singapore seeks to become a regional leader in space technologies. We will help global and local companies invest in and capture growth opportunities in the region, inject funding to support research and development (R&D) in Singapore and strengthen Singapore’s regulatory environment in relation to space activities. An additional S$60 million will be invested in OSTIn’s Space Technology Development Programme (STDP) over the next two years to accelerate innovation in satellite technology, foster capability-building in Singapore’s IHLs and RIs and promote the commercialisation of research. Further information on the STDP and the top-up of funding can be found in Annex A.
b. Building International Partnerships
Singapore is committed to ensuring the sustainable and safe use of space. This requires the development of international norms and an open, inclusive and rules- based international regime governing space activities. As such, Singapore will continue to pursue bilateral collaboration and participation in multilateral platforms, including convening regional and global discussions on space.
OSTIn is signing a Letter of Intent with the European Space Agency to enhance industry cooperation between the Singapore space ecosystem and our international partners. OSTIn is also working on formalising an engagement to expand cooperation in space technology and industry development with the Indian National Space Promotion and Authorization Centre (IN-SPACe).
c. Developing Space Programmes in Focus Areas
Lastly, Singapore will focus on programmes where space technologies can make a real-world difference. Space technology presents opportunities for Singapore to strengthen our position as a global hub for aviation, maritime, connectivity, and sustainability.
Under this thrust, OSTIn has launched an Earth Observation Initiative (EOI), which will use remote sensing satellite technology to analyse and solve sustainability and humanitarian challenges across the region, such as food and water quality, disaster and disease monitoring and forestry and land management. With its near equatorial and Low Earth Orbit satellite capabilities, Singapore is well-placed to support the region with frequent and high-resolution data across a highly dynamic environment to overcome challenges.
The EOI is the first of its kind for Singapore, bringing together intergovernmental organisations, companies, Institutes of Higher Learning (IHLs) and Research Institutions (RIs) to utilise valuable satellite data. The 15 partners and members of the initiative include international and regional organisations – such as the United Nations Office for Outer Space Affairs, the World Bank, the World Economic Forum and Mekong River Commission Secretariat. Through workshops and forums, partners and members can develop practical use cases for Earth observation data and conduct demonstration projects to showcase potential applications. Please refer to Annex B and C for further details on the EOI.
