The federal government has instructed the Australian Space Agency to speed up approvals process as part of its “landmark” plan to grow the local space sector and make the country the destination of choice in the Indo-Pacific.
Industry Minister Tim Ayres unveiled the “landmark” Statement on Space on Tuesday morning at the Australian Space Forum in Adelaide.
It outlines the Labor government’s vision for the Australian space sector, five areas of focus and potential actions going forward.
It will now consult on the specific details of these actions before releasing them later this year.
The statement says that Australia has a “credible base” in space, with about 275 SMEs in the sector with annual turnover of $4.6 billion in 2021.
The global space economy is expected to reach $US1.8 trillion ($2.6 trillion) by 2035, and more than half a billion dollars in private and public investment going into the sector in the last 18 months.
Global space race
Australia is now increasingly competing with the likes of the United Kingdom, Japan and India, which are looking to encourage private space launches locally by cutting regulations and speeding up approval processes for private companies to launch rockets.
The Albanese government has also issued a Statement of Expectations to the Australian Space Agency, telling it to speed up regulatory approvals and modernise the regulatory framework for emerging activities.
The government’s statement lays out the specific areas it believes Australia can lead the world in, and the role it can play in boosting sovereign capability in space, both as an economic opportunity and a national security priority.
“Australia stands at an inflection point in its space journey,” the statement said.
“As space becomes increasingly intertwined with economic activity, environmental management, critical services and national security, greater clarity on where Australia can contribute has increasing practical importance.
“The statement lays the foundation to position Australia’s space sector to meet demand, address national resilience needs, and maximise opportunity within a rapidly evolving global environment.”
‘Enduring space ecosystem’
The government’s overall vision for the Australian space sector is “an enduring space ecosystem that supports Australia’s economic resilience and security, is globally competitive, and secures our place in a changing world”.
The aim is to position Australia as the Indo-Pacific’s preferred space launch and returns destination, the statement said.
“Australia’s advantage is practical and investable, connecting the geography with the capability, partnerships and policy settings needed to turn space technologies into enduring economic and strategic value,” it said.
The federal government has identified five areas of focus when it comes to space, which it has determined Australia has a unique opportunity, market potential and which support national resilience.
These areas are trusted space services, spaceflight ecosystem, space platforms, microgravity ecosystem and exploration technologies.
These are areas where government activity can encourage the conditions that lead to greater investment, coordination and delivery.
“The Statement on Space is a clear indication of Australia’s priorities and ambitions for our space sector, which is a critical enabler across our economy,” Assistant Minister for Science, Technology and the Digital Economy Dr Andrew Charlton said.
“We know there is immense investment appetite and the Statement on Space will support Australian organisations to maximise this opportunity and deliver real economic outcomes for Australians.”
The government’s actions in space will centre on promoting the nation’s strengths in space, coordinating demand signals, shaping capability development, deepening and harnessing international partnerships and advancing regulation and international governance.
Australia is already an “appealing and trusted partner” when it comes to space, Australian Space Agency head Enrico Palermo said.
“This statement strengthens that case so our industry can contribute in a way that embeds them into global supply chains and delivers economic benefits here at home,” Palermo said.
“The five focus areas provide a basis to target effort where Australian industry capability can support national needs, connect into global demand, open market pathways and contribute to the productivity, resilience and security of Australia’s economy.”
The government now plans to work with industry, academia, government stakeholders and the community on the specific actions, and will hold ministerial and industry-led roundtables along with targeted engagement.
The Australian space sector has been growing rapidly in recent years, with a focus on private launch companies.
Earlier this year homegrown Gilmour Space Technologies became a unicorn, with a $217 million Series E funding round valuing it at over $1 billion.
This funding round was jointly led by the federal government’s National Reconstruction Fund.
