Demand and supply development
Innovations, policy positions and market disruptions that will influence demand for the Territory space industry include:
- a fast-growing and fiercely competitive commercial sector
- falling launch costs
- escalation of demand for space-related technologies
- innovative technology solutions (for example, reusable rockets; mass produced satellites; cube, micro and nanosatellites)
- increased interest from private funding sources in the sector
- early interest from commercial sector on new markets such as human spaceflight and resource mining
- enhanced Defence interest in Australia having sovereign capabilities in space
- increased Australian government investment in the space industry, including:
- creation of the Australia Space Agency
- passing of the Space Activities (Launches and Returns) Act 2018
- investment in satellite technology to enhance GPS accuracy, and
- partnering with international space agencies on strategic projects.
Market development can also be shaped around the Territory’s:
- geographic advantage for launch sites
- memorandum of understanding with Australian Captial Territory and South Australia to collaboratively grow the Australian space economy
- strong trade connections with countries also interested in the space economy, including Japan
- demonstrated capacity to develop emerging industries and host niche high-tech strategic operations.
Competitive advantages and supply gaps
Priority focus ‘supply development’ areas for the Northern Territory Government will include:
- evaluation of the ‘enablers for growth’ of Australia’s space industry as identified by the CSIRO
- analysis of capabilities and gaps
- enhanced understanding of supply chains
- increased investment promotion
- investigating partnership opportunities with research and innovation providers.
Space industry proponents’ supply-oriented focus is likely to concentrate on:
- workforce development
- infrastructure development
- investment attraction
- research and development.
Last updated: 04 June 2019