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  • Satellite Evolution Group

GSTC 2024 spotlights growing commercial significance of the space industry


Asia’s most important space and technology convention, the Global Space and Technology Convention (GSTC), kicks off, bringing together over 1000 thought leaders, industry insiders and investors across 50 countries and regions. The space industry’s cornerstone event held annually since 2008, GSTC is led by Singapore Space and Technology Limited.

 

Held annually since 2008 by Singapore Space & Technology Limited, GSTC is into its 16th edition, bringing together an ecosystem of high-level panel discussions on the most current industry issues, networking sessions to accelerate business-matching, and technical industry workshops.

 

The global community is facing unprecedented challenges, from pressing environmental concerns and rapid urbanization to evolving security threats, requiring innovative solutions that extend beyond the boundaries of our planet. From monitoring climate change and managing natural resources to enhancing connectivity and strengthening security measures, space technology offers innovative solutions to some of the most pressing challenges facing humanity.

 

Under the banner of ‘Space for a Sustainable, Smart and Secure World’, GSTC 2024 puts the spotlight on the growing commercial importance of the space industry in driving innovations in sustainability, smart cities and security – from air, land and maritime to cyberspace defence.


“It is time for space to take its rightful place at the top of the innovation agenda in solving global challenges. With the rapid commercialization of space and the wider understanding of its vast applications, space has earned its rightful place at the top of the global innovation agenda. The space industry is an innovation enabler that cuts across different sectors and this year’s Convention highglights the tremendous commercial value that space unlocks,” said Jeremy Chan, Chairman, Singapore Space & Technology Limited.

 

B2B Marketplace and Singapore Pavilion in the Spotlight


GSTC 2024 features a diverse range of sessions, workshops, and exhibits, covering topics such as satellite technology, space exploration, cybersecurity, and sustainability initiatives. Of note is the Convention’s global B2B marketplace aimed at accelerating commercial partnerships and integration of space technologies into other industry verticals. Another highlight is the Singapore Pavilion, providing an international platform for Singapore space companies and startups featuring advanced satellite imaging, laser communications for global high-speed internet connectivity, quantum key distribution for cybersecurity and high-reliability semiconductor solutions on board space crafts. Singapore has also grown in reputation as a hub for the growing space industry: the Space Accelerator Programme by Singapore Space & Technology Limited boasts a strong portfolio of 48 companies from 20 countries including Japan, India, Singapore, the US and Europe, with a combined of close to US$1 billion.


UK as Featured Country for second year running; underscores close partnership

Underscoring the importance of GSTC as a commercial platform and a gateway for strategic partnerships, the United Kingdom is participating as a Featured Country for the second year running. As a global hub for space innovation and commercialization, the UK continues to drive advancements in satellite technology, Earth observation, and space exploration. Its presence at the GSTC brings into focus the strategic importance of fostering international partnerships and collaboration in advancing the commercial value of space.


"The UK has built a thriving space economy with end-to-end support for space enterprises – last year it grew by almost £1bn to £17.5bn. Our National Space Strategy sets out our ambition to become one of the most innovative and attractive space economies in the world. In Singapore, the Global Space and Technology Convention offers us a great platform to grow our businesses in the region. Last year, we established keystone partnerships – for example that between SSTL and STFC – to encourage more UK-Singapore collaborations in Space. This year, we bring 24 UK space companies - the largest-ever UK Space delegation to the Convention and to those partnerships, all keen to use UK and Singapore as a launchpad. These capabilities cover a highly diverse portfolio, from building next-gen scalable in-space manufacturing facilities to AI-based vision navigation systems to enable space missions that include satellite refuelling,” said Kara Owen, British High Commissioner to Singapore, British High Commission.


In 2022, SSTL inked an agreement with the UK Science and Technology Facilities Council (STFC) to encourage two-way deal-flows between Singapore and the UK. Within a year, the partnership paved the way for a number of significant developments to advance the commercialization of the space sector, including a dedicated Asia Pacific rideshare mission to help more companies and research institutes in the region test their payloads in space; as well as an agreement between UK-based Earth-i and Navigate Commodities, an SSTL portfolio company, to develop real-time daily monitoring services for the steel industry.


The UK was Featured Country at GSTC 2023 and has returned again as Featured Country for a second year at GSTC2024, bringing companies that span Earth Observation, satellite subsystems, advanced materials for space exploration, space robotics, space sustainability and space-based solar power.

 

“We are proud to have the United Kingdom as the Featured Country of the Convention for a second year running. The long-term partnership between SSTL, GSTC and the UK, and the continued growth of the collaborations year-on-year are testament to the power of bringing the right partners and platforms together,” added Jeremy Chan.

 

GSTC 2024 is held from 15th – 16th February at Sheraton Towers Singapore.

For more information visit: www.space.org.sg

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