Australian government reaches for future made in space

The government is looking to literally skyrocket industry policy by redoubling focus on space industries.

The global space economy is tipped to top US$1.8 trillion by 2035. It is currently estimated to be worth about $1 trillion.

Australia has been a global leader in space telemetry and communications for decades. Now, the government is backing companies setting up spaceports and the necessary training and supply facilities.

The National Reconstruction Fund has doled out $200 million to these companies over the past 18 months, including to Southern Launch, Liquid Instruments, Advanced Navigation, and Gilmour Space Technologies.