Dec 2021: National Space Industry Hub Update

We are almost at the end of a challenging year. Yet, in spite of another year of global disruption, the space industry is booming. Technologies like 5G, 3D printing, AI on the edge, and quantum computing are becoming mature enough to be used in space and enabled by space. 

Space has recaptured the public's imagination, and we’re seeing more capital and government support flow into the space industry than ever before. Investment in space companies worldwide will exceed $14 billion this year.

Governments have increasingly set their sights on building critical capabilities and ambitious missions, including Space Domain Awareness, sovereign Telecommunications and Navigation systems, Moon colonisation, Mars exploration, just to name a few. While private companies are working on more and more ambitious projects. We’re in no doubt all of Elon Musk’s giant constellation, but other notable projects include Relativity Space and their 3D printer small launchers, GHGSat’s high-accuracy methane sensors, and Spin Launch’s hypersonic catapult. 

And I believe that in 2022, we will see space play an even more vital role in helping us to combat climate change, feed our growing population, and protect nations. I deeply hope that we will see an “awakening” from governments and industry of the opportunities that space offers to tackle today’s most pressing problems. 

I deeply hope that we will see an “awakening” from governments and industry of the opportunities that space offers to tackle today’s most pressing problems. 

Here in Australia, the global interest in space is at its ever highest point. While late in the global space race, we’re finally seeing space being flagged as a critical capability for our country’s future sovereignty and industrial growth. In 2021, Australian space startups raised record levels of funding, the most significant being Gilmour Space Technologies (A$61 million) and Fleet Space Technologies (A$36 million). As the industry grows, we expect that record to be broken in every subsequent year. 

Back in July, while billionaires were flying to the edge of space, Cicada Innovations was busy laying the groundwork for the National Space Industry Hub. Our vision for the Space Hub is to build a vibrant, globally competitive space industry that benefits all Australians by supporting a new generation of space researchers, innovators, and entrepreneurs.  

Ahead of the official launch of the hub in February (register here to attend), we have welcomed our first residents, held our first space events, and launched our Fast Start program. We will be coaching 3 space ventures early next year; and are already expecting more to join the program. 

Yes, 2021 has been an exciting space year, but shuttle up and let us take you to the next level.

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