Australia is making its foray into space, with plans to build a space program. The global space and aeronautical industry is valued at US$320 billion with growing investment opportunities. Two companies stand out as clear leaders in the market – Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin.
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Why Australia is building a space program
Australia is aiming for the stars with plans to develop their our very own space agency to compete on a global scale with the likes of the U.K. and Canada. Currently, the global space and aeronautical industry is valued at US$320 billion worldwide and its function is vital for our day to day operation. It provides satellite services that we take for granted such as banking, mobile service, GPS and disaster prediction to name a few. Australia understood this and was the third country in the world to launch a satellite into space behind the U.S. and Russia. However, fast forward 50 or so years later and Australia is one of only two OECD countries (the other being Iceland) that does not have an active space program, something that the Australian government intends to rectify.
How the private space companies are changing the game
In the area of private space launches, two companies stand out as clear leaders in the market – Elon Musk’s SpaceX and Jeff Bezos’ Blue Origin.
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