Singapore will launch its first national space agency in April to provide \u201cdecisive leadership\u201d for the Southeast Asian country to tap an \u201cexpanding space economy,\u201d the nation\u2019s government announced on Feb. 2. Tan See Leng, Singapore\u2019s Minister-in-charge of Energy and Science & Technology, noted the new National Space Agency of Singapore (NSAS) will target the \u201cnew possibilities posed by democratized access to outer space.\u201d<\/p>\n
The agency will be led by Ngiam Le Na, a veteran public servant who previously served as deputy CEO of Singapore\u2019s Defence Science and Technology Agency and at DSO National Laboratories, the country\u2019s defense R&D organization.<\/p>\n
According to Tan, NSAS will focus on five key areas: research and development, growing the space industry, global partnerships, expanding national capability in space, and legislation for safety and sustainability in space.<\/p>\n
The World Economic Forum<\/a> predicts the global space economy to exceed $1.8 trillion by 2035, up from $613 billion in 2024.\u00a0<\/p>\n Singapore is currently home to 70 space companies employing about 2,000 professionals. Its government has also inked partnerships with global space agencies including the European Space Agency, the Indian National Space Promotion and Authorization Centre, and the UAE Space Agency.<\/p>\n \u201cSingapore\u2019s strengths in advanced manufacturing, aerospace, micro-electronics, precision engineering and artificial intelligence position us well to capture new opportunities in the space technology sector,\u201d reads a Feb. 2 press release by the country\u2019s Ministry of Trade and Industry.<\/p>\n Executives Fortune <\/em>spoke with also expressed excitement about the burgeoning space scene in Singapore and the larger APAC region.<\/p>\n \u201c(Singapore) is a very important R&D hub, and as we heard this morning, it\u2019s growing in the space sector,\u201d says Massimo Claudio Comparini, the managing director of Italian firm Leonardo\u2019s Space Division. \u201cAsia is a growing region, and it\u2019s one where space infrastructure, connectivity and geospatial technology are very important.\u201d<\/p>\n Singapore\u2019s decision to set up its own space agency is a \u201ctimely, strategic move,\u201d adds Michelle Khoo, leader at the Deloitte<\/a> Center for the Edge Southeast Asia. \u201cSingapore has already been making strides in the space sector: the increasing number of space companies anchored here shows that they have a strong appetite to access the market, both locally and in Southeast Asia at large.\u201d Deloitte predicts that increased adoption of earth observation technologies\u2014which can be used, in turn, by AI\u2014could add $100 billion to Southeast Asia\u2019s GDP by 2030.<\/p>\n An inaugural space summit<\/strong><\/p>\n Singapore\u2019s government made the announcement at the Space Summit, the city\u2019s first show focused on the space industry. Global aerospace giants like Airbus<\/a> and Leonardo<\/a>, as well as smaller startups like India\u2019s Pixxel, Japan\u2019s Synspective and South Korea\u2019s Pedigree Aerospace were present in the Sands Expo and Convention Center.<\/p>\n \u201cWe hope that companies can use the Space Summit as a platform to springboard into opportunities in the Asia-Pacific and globally,\u201d says Leck Chet Lam, who helms Experia Events, the organizer of the Space Summit. The summit, which drew over 330 participating organizations in its first year, has already been renewed for a second iteration.<\/p>\n Update, Feb. 2, 2026: This article has been updated with additional comments.\u00a0<\/em><\/p>\n<\/div>\n Join us at the Fortune Workplace Innovation Summit <\/strong>May 19\u201320, 2026, in Atlanta. The next era of workplace innovation is here\u2014and the old playbook is being rewritten. At this exclusive, high-energy event, the world\u2019s most innovative leaders will convene to explore how AI, humanity, and strategy converge to redefine, again, the future of work. Register now<\/a>.<\/span><\/p>\n<\/div>\n