You are currently viewing Australian government invests $23.6m in growing global space sector – SatNews

Australian government invests $23.6m in growing global space sector – SatNews

Federal Minister for Industry, Energy and Emissions Reduction Angus Taylor said the Morrison government was working hard to triple the size of the local space sector by 2030 to $12 billion, which would will create 20,000 new jobs.

The Morrison government is supporting the establishment of Australia’s satellite manufacturing hub, helping the country secure its share of the growing global space sector.

The government today announced that it will invest $23.6 million in the $71.4 million Hub, jointly led by Electro-optical systems (EOS) and Nova Systemswhich will see manufacturing facilities built in the South Jerrabomberra Innovation Precinct outside Canberra and UTS Tech Lab in the Sydney Innovation and Technology Precinct based in Botany, NSW.

In partnership with Gilmour Space Technologies, the Hub will host the local design, manufacture and testing of large satellites up to 500 kilograms.

Federal Minister for Industry, Energy and Emissions Reduction Angus Taylor said the Morrison government was working hard to triple the size of the local space sector by 2030 to $12 billion, which would will create 20,000 new jobs.

“Every day when Australians use navigation systems in their cars or smartphones – or farmers want to monitor crops, or rescuers respond to bushfires – they use space-based technologies such as satellites,” Minister Taylor mentioned.

“Funding for the Australian Satellite Manufacturing Center will further strengthen our credentials as a leading space nation.

“This hub will help increase the capabilities of our space sector, support the development of new, highly skilled jobs, and make the space supply chain a place where collaboration to build great satellites is right here at home.”

NSW Senator Jim Molan said the project reinforced the Morrison government’s commitment to securing Australia’s sovereign capacity, as well as creating jobs.

“This investment is another example of the Morrison Government’s commitment to developing space capability here in Australia, so that we can stay safe and create significant economic opportunity,” Senator Molan mentioned.

“This project will create the industry know-how base for more complex space missions in the future. This means more knowledge and expertise and more local jobs right here at Eden-Monaro in this vital industry.

NSW Deputy Premier and Minister Paul Toole says the NSW Government is investing $22.86 million in the project which will position the state as a world leader in the field of manufacturing.

“We are serious about delivering record infrastructure and jobs and this legacy project will create 125 direct jobs during construction, half of which outside the Sydney Basin, as well as 375 permanent jobs once operational,” Mr. Toole mentioned.

The manufacturing facility will be located in the South Jerrabomberra regional employment district, positioning it as one of the state’s premier defence, space and military employment districts. cybersecurity.

New South Wales Minister for Business, Investment and Trade, Stuart Ayres, said the support would bring metropolitan and regional benefits to spur new investment and attract the brightest minds to New Wales from South.

“As part of the project, a dedicated R&D facility will be developed at the UTS Tech laboratory adjacent to Tech Central Sydney, which will foster collaboration between academia, industry and our growing skilled workforce,” Mr. Ayres said.

“This project will enhance our manufacturing capabilities, drive the commercialization of space R&D and act as a catalyst for investment in priority space and defense sectors.”

Monaro MP Nichole Overall said it was fantastic to welcome so many highly skilled jobs to the area.

Five hundred jobs is a major win for the region and a huge boost for employment in this growing specialist industry,” Mrs overall mentioned.

Eden-Monaro Liberal candidate Dr Jerry Nockles said the local region is proud of what EOS and Nova Systems, two Australian companies, have achieved.

“EOS is a great company that has come from the heart of Queanbeyan and is now at the forefront of Australian high technology.Fmeaning industry, Dr Nockles mentioned.

“It’s not only exciting for our community to be part of this innovative industry, it will also put food on the table for hard-working Australians.

Budget 2022-23 demonstrated the continued commitment to manufacturing with an additional $1 billion for the Morrison government’s Modern Manufacturing Strategy, including an additional $750 million for the Modern Manufacturing Initiative.

The global space sector is expected to grow from US$350 billion to US$1 trillion by 2040.

This latest investment comes after the Morrison government committed $1.2 billion in the 2022-2023 budget for Australia’s first-ever domestic Earth observation space mission, which will include design, build and operate. of four satellites by Australia.

In total, the Morrison government has committed more than $2 billion to developing the civilian space sector since the establishment of the Australian Space Agency in July 2018.

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