6
BAMOS
Jun 2018
News
Australia’s first space agency
Budget news—2018/19 FY
Media release, Minister for Jobs and Innovation, the Hon Michaelia Cash
14 May 2018
The Turnbull Government will establish the first Australian
Space Agency, helping our businesses win a greater share of the
multi-billion dollar global space market and establishing a new
industry with the potential to create 20,000 jobs. The Government is also investing more than $260 million
to develop world-leading core satellite infrastructure and
technologies, including better GPS for Australian business and
regional Australians and improved access to satellite imagery.
Australia has strong capability in space-related industries.
We are world-leaders in automated mining and precision
agriculture, and we have immense expertise as an advanced
manufacturing nation. Making the announcement today (14 May) at Woodside in
Perth, Minister for Jobs and Innovation, Michaelia Cash said the
global space industry was growing rapidly and it was crucial
that Australia was part of this growth.
The global space economy is worth around USD 345 billion,
and growing at nearly 10 percent a year, and yet, despite the
outstanding capability here on our shores, Australia only
accounts for 0.8 percent of the global space economy. “We have an extraordinary opportunity to increase our share of
the growing global space economy.
We have a fantastic opportunity to triple the size of our domestic
space industry to up to $12 billion by 2030 and create a new
industry, and jobs, for Australians.
The Turnbull Government is grasping this opportunity and
investing $41 million to establish our first-ever national space
agency.
This includes an initial fund of $15 million to kick-start our
investment in international missions and projects so we can
provide Australian businesses with immediate access to this
global industry.
The agency will support the long-term development and
application of space technologies, growing our domestic space
industry and securing our place in the global space economy. It
will operate from 1 July 2018.
Dr Megan Clark AC will lead the agency for its establishment
and first year of op