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By 2030, Australian Space Industry To Fetch 8.5 Billion USD: Karen Andrews

The extent of Australia’s space industry is on the way to triple by the end of 2030, Karen Andrews—Minister for Industry, Science, and Innovation—stated. The Australian administration launched the ASA (Australian Space Agency) in 2018—which is the nation’s first national space agency—with head office to be constructed in Adelaide in 2019. Andrews further said that the national space industry is presently worth 2.79 Billion US dollars (3.9 Billion Australian dollars) yearly, employing 10,000 people. “The purpose is to expand it by the end of 2030 to an industry that is efficiently tripled in size so value 8.6 Billion USD (12 Billion AUD) to the financial system with an extra 20,000 working in the sector,” she reported to News Corp Australia.

The minister further added, “It is a sector that is worth almost 353 Billion USD globally. So, Australia has only obtained a very small percentage. Australia is exceptionally placed geologically in the southern hemisphere and we require capitalizing on that.” Her remarks came during the opening of the Australian International Airshow held at Avalon Airport. The 2019 Airshow spots the ASA’s first time to have a presence at the occurrence with a focus on trade opportunities in the sector with the assistance of Questacon, the National Science and Technology Center.

On a similar note, recently, Australia’s Queensland intends for billions USD space economy with a novel program. A space venture in Queensland can contribute more than 4.2 Billion US dollars to the national economy by the end of 2036, as stated by a local official. Cameron Dick—Minister for State Development, Manufacturing, Infrastructure, and Planning—said to Deloitte report, that Queensland has the location and ability to build up their already spirited space industry into an essential part of the state’s economy.

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