Mr Iswaran at the Global Space and Technology Convention

SPEECH BY Mr S. Iswaran, minister of state for trade and industry, AT THE GLOBAL SPACE AND TECHNOLOGY CONVENTION ON 20 FEBRUARY 2008, 10.00 AM AT THE SINGAPORE AIRSHOW

Distinguished Guests

Ladies and gentlemen,

I am pleased to join you this morning at the inaugural conference for the Global Space and Technology Convention. Let me first extend my heartiest congratulations to the co-organizers, the Singapore Space and Technology Association, and the Singapore Airshow, for launching Singapore’s first international space conference.

In 2006, the Space Foundation[1] estimated the global space industry to be worth US$220 billion, an 18% increase over 2005. Growing at a steady pace, the space industry looks poised for a round of new breakthroughs. There are two discernible trends in this industry which will make GSTC an important platform.

Seizing Commercial Opportunities Offered by Space

The first is the increasing number of commercial opportunities and the growing participation of the private sector in the space industry. The space industry is no longer a realm restricted only to governments.

Space technologies fall into many different categories: materials engineering; hardware and software; robotics; communications; power and energy devices, just to name a few. Many of these technologies can be transferred to new and highly beneficial terrestrial applications as well.

The range of these applications is enormous, presenting significant commercial opportunities. In view of this, some governments are playing an active role in commercializing space technologies. One example is the Commercial Orbital Transportation Services (COTS) programme that NASA announced in Jan 2006.

NASA has invested some US$500 million to develop commercial transportation services to stimulate a competitive market for supply flights to the International Space Station. Private sector companies, such as Space X, have leveraged upon this, investing heavily in R&D to develop new transportation systems.

Another example is the European Space Agency’s (ESA) Technology Transfer Programme Office or TTPO which has successfully transferred over 200 space technologies to non-space sectors for applications as diverse as cooling suits for use by Formula 1 racing teams, ground penetrating radar to detect cracks in mine tunnels and several health-care innovations. A number of new start-up companies have also been created, many of which have been promoted through ESA’s Business Incubator.

More recently, iOpener, an ESA spinoff, has developed a technology to map real-world competitions such as Formula 1 to an artificial world, allowing gamers to participate in the race virtually and in real time. This product is based on “rocket-science” innovations from ESA. iOpener received €4.1 million in start-up funding for this product. This is testament to the commercial viability of space technology.

In the near future, I am confident we will see a new breed of highly entrepreneurial commercial space companies boosting the nascent private-sector space race, including space tourism.

Asia as the Next Frontier for Space Technologies

The second trend to note is the role that Asia will increasingly play in the development of space technologies. In this respect, GSTC is certainly well-positioned to capture the growing momentum of a rapidly expanding space market within the region as well as to serve as an anchor for the space industry in Asia.

In particular, Singapore is an ideal platform for discussions on the latest and most pressing topics arising within the industry, involving leaders from around the world. We do not have a national space programme and can therefore provide a neutral platform for such exchanges of ideas.

Singapore also has research capabilities in satellite technology through the Centre for Research in Satellite Technologies (CREST) and Centre for Remote Imaging, Sensing and Processing (CRISP). CREST is designing and building Singapore’s first experimental micro-satellite, and is targeting to launch it by 2008. CRISP develops advanced capabilities in remote sensing to meet the scientific, operational and business requirements of Singapore and the region.

Where relevant, we can also serve as a venue offering services to the rest of the region, based on our strong engineering and system integration capabilities, talented workforce, strong Intellectual Property Rights regime, and a vibrant research ecosystem. It could be an extension of capabilities already present in our aerospace sector.

There is much potential in this innovative, creative and high-technology sector, and Singapore has just the right blend of ingredients to serve as a catalyst and facilitator for space technology applications and related business opportunities.

I am therefore heartened by SSTA and Singapore Airshow’s efforts in organizing this inaugural Global Space and Technology Conference in Singapore. I hope that over time, this conference will become an effective platform to forge new partnerships as well as to foster greater interaction within the international space community.

Conclusion

The Space Industry has been, and will continue to be, an area of focus for global superpowers and advancing nations. Its traditional domination by governments will be complemented by growing commercial activities – encompassing new revenue generating fields such as space tourism. More and more of such developments will take place in Asia. Moving forward, the GSTC and Singapore can serve as a platform that facilitates the industry’s growth in this region.

I would like to wish everyone a successful conference and an exciting journey through space and the universe of opportunities it offers.

Thank you.

[1] The Space Foundation, based in the US, is one of the world's premier non-profit organizations supporting space activities, space professionals and education.