Private investment in Australian space sector hits $300m
More than $300 million in private funds were invested in the Australian space sector last year, Australian Space Agency head Enrico Palermo said, in a sign of the growing maturity of the local industry.
Speaking at the 18th Australian Space Forum on Tuesday, Palermo said there had been year on year growth in research and development investment in the Australian space sector since the ASA was established in Adelaide in 2018, and the agency itself invested more than $67 million last year through its grants programs.
Palermo highlighted the upcoming test flight of Queensland-based Gilmour Space’s Eris rocket, slated for Sunday, July 27, as a significant milestone.
“And for me, they are an example of the entrepreneurial spirit, the innovation, the perseverance that this sector is increasingly being known for,” he said at the Forum in Adelaide.
The planned 2028 launch of a low earth orbit satellite by an Optus-led consortium, announced on Monday this week, was another bellwether for the sector in terms of private investment, he said.
“These achievements I’ve highlighted are certainly not isolated, and certainly not all the things we should celebrate,’’ Palermo said.
“They are part of a broader economic story unfolding, in my opinion, as we see the steady growth of the industry.
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“It’s a reminder that we are a key player, one to be taken seriously, and we should not stand on the sidelines.’’
Palermo said the space sector had a key role to play in boosting Australia’s productivity, and fit well into the Federal Government’s Future Made in Australia program.
“Space represents a place to deliver the real-world applications of critical technologies that government is prioritising, including quantum, artificial intelligence, robotics and advanced manufacturing,’’ he said.
“You can see that through the many projects the agency has funded and defence has funded as well. So the Australian government recognises the critical role space plays in industries across the full breadth of the Australian economy.’’
Areas where space would play an increasing role included precision agriculture, logistics and safeguarding against climate change risks, he said.
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Space Industry Association of Australia chief executive Dan Lloyd told the conference that there was a global race on to take advantage of the opportunities space presented.
He said the question of why Australia did not have a national space strategy was often raised, and it was “well worth considering what are the clearer signals we can send’’ when it came to industry support.
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Meanwhile South Australia’s Minister for Industry, Innovation and Science Dr Susan Close said the state was now home to more than 100 space-related organisations and key research programs, looking at issues such as crop monitoring, mineral exploration and vegetation health.
Close said companies such as Myriota, Inovor Technologies, Southern Launch and Fleet Space Technologies were driving innovation in the sector in areas such as mineral exploration, groundwater monitoring and methane leak detection.
The state was also home to the SmartSat Cooperative Research Centre, which is spearheading research missions in earth observation and bushfire resilience.
“One of the projects SmartSat CRC is leading with research partners and South Australia’s Department of Environment and Water and PIRSA, considers how we can leverage hyperspectral satellite imagery to monitor crop conditions and vegetation health in variable climates,” Close said.
“This technology could support sustainable agriculture decision-making and provide critical insights for shaping our policies on conservation and land management.”
Other SA-based organisations in the sector include the Australian Space Agency, the Responsive Space Operations Centre and the Australian Space Discovery Centre, all of which are based at Lot Fourteen.
On the industry front, the local sector now boasts three companies which are leading the charge in nanosatellite manufacture and deployment, with Fleet now having deployed its Exosphere technology to some of the harshest environments on the globe, Close said.
“(Fleet is) using a combination of satellite and space technologies, edge computing and artificial intelligence, to offer a more sustainable and scalable method for mineral exploration,’’ Close said.
“Myriota, a leader in Internet of Things, continues to expand its satellite constellation and global footprint, providing IoT solutions for applications such as monitoring groundwater bores and livestock water supplies to detecting gas leaks and supporting military-grade sensor systems.
“Inovor Technologies is scaling its satellite manufacturing capabilities to support a number of missions – including, for the first time, maritime surveillance.’’
Close said Southern Launch, which now operates the Whalers Way Orbital Launch Complex, and the Koonibba Test Range – a suborbital testing facility – also in March this year achieved a major milestone with the first-ever successful re-entry of a commercial spacecraft to a commercial site at the Koonibba Test Range, with the return of US company Varda Space Industries W-2 capsule.
The W-3 also successfully returned to Koonibba in May 2025, Dr Close said.
