(Singapore Government Monitor) January 28, 2010
Today, more than half of the global space industry’s revenues come from the purchases of commercial space products and services. In 2008, the Space Foundation estimated the global space industry to be worth US$257 billion and growing at an impressive Compounded Average Growth Rate (CAGR) of 8.4 per cent since 2006. In Asia, the space industry is poised to grow rapidly as many Asian nations set ambitious targets for their national space programs. Singapore can potentially contribute to the rapidly developing space industry in Asia in several ways.
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