The Urban Developer
AdvertiseEventsWebinars
Urbanity
Awards
Sign In
Membership
Latest
Menu
Location
Sector
Category
Content
Type
Newsletters
Untitled design (8)
2 WEEKS UNTIL OUR UNMISSABLE FLAGSHIP CONFERENCE MORE THAN 550 ALREADY ATTENDING
2 WEEKS UNTIL OUR FLAGSHIP CONFERENCE 550+ ALREADY ATTENDING
REGISTER NOWDETAILS
TheUrbanDeveloper
Follow
About
About Us
Membership
Awards
Events
Webinars
Listings
Resources
Terms & Conditions
Commenting Policy
Privacy Policy
Republishing Guidelines
Editorial Charter
Complaints Handling Policy
Contact
General Enquiries
Advertise
Contribution Enquiry
Project Submission
Membership Enquiry
Newsletter
Stay up to date and with the latest news, projects, deals and features.
Subscribe
ADVERTISEMENT
SHARE
4
print
Print
TechnologyEditorial DeskMon 25 Feb 19

Queensland Could Build $6bn Space Industry

01eadf54-cea0-4ee6-b636-bf906cd888b2

Queensland could develop a space industry with potential to contribute up to $6 billion to the state’s economy by 2036, as the state says it is actively seeking growth in the sector.

Deloitte modelling shows Queensland’s economy could increase by between $3.5 billion and $6 billion over the period 2019-to-2036, with 1800-to-2700 employment roles created in this period, according to a report released by the state government.

While a new wave of private sector investment into space capability has rolled out in recent years, space has always ignited human curiosity — from ancient Mayan’s astronomy, through to NASA's first moon landing.

Last year Victoria ramped up its efforts to campaign for the Australian Space Agency. The state currently employs around 2,300 people and generates more than $400 million in revenue for its economy annually.

The Deloitte report shows Australia has a number of small enterprises in the space startup scene.

The case for space

Currently, the space economy is worth US$345 billion annually and rapidly growing.

The Queensland government believes it can lead Australia’s exposure to the growing sector due to its “geographical, commercial and research strengths”.

State planning minister Cameron Dick says Queensland’s space industry currently generates $760 million per year through core industry services like satellite communications, and employs more than 2000 full-time positions.

“Queensland universities and companies are at the forefront of space research and technology, including NASA’s mission to identify inhabitable planets beyond our solar system, world-leading hypersonic rocket development, the design and manufacture of advanced composite materials, and in new satellite launch and communications technologies,” he said.

The Deloitte report provides an economic foundation from which government can form a policy position on further development of the Queensland's space sector.

“The Queensland space economy has ambitions – ambitions to grow, ambitions to launch and ambitions to be globally recognised. These ambitions are credible but are also grounded in the reality that Queensland is a small player in a large global supply chain,” Deloitte’s report said.

“The opportunities arise, however, not in competing with the entrenched agglomerations in the likes of the US, China and Europe; but instead in continuing to develop niche, globally competitive, high value-added goods and services that can be traded with the world.”

OtherAustraliaBrisbaneTechnologySector
AUTHOR
Editorial Desk
More articles by this author
ADVERTISEMENT
TOP STORIES
The Port of Brisbane has released its Vision 2060 which details the need for inland rail connectivity
Infrastructure

Brisbane Port’s $15bn Future Faces One Big Obstacle

Renee McKeown
5 Min
Freecity Rouse Hill triple towers 2 Tempus Street
Exclusive

Freecity Takes Covers Off $330m Triple Towers in Sydney’s North-West

Leon Della Bosca
5 Min
Parallel Workshops Stockdale Housing PBSA project
Exclusive

Suburban Success Story Turns PBSA Thinking on its Head

Leon Della Bosca
7 Min
Exclusive

Interstate Developers Find Lots to Love in ‘Progressive, Affordable’ SA

Taryn Paris
5 Min
Bates Smart Richmond Sportslink HERO
Exclusive

BtR Focus Drives Bates Smart’s Richmond Sportslink Concept

Leon Della Bosca
6 Min
View All >
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
Residential

Home Affordability Gap Widens Across Asia-Pacific

Lindsay Saunders
Income growth and price dips have done little to improve the situation, according to fresh data from the Urban Land Inst…
LATEST
Stockland's Triniti HERO
Build-to-Rent

Stockland $400m North Ryde BtR Approved on Appeal

Leon Della Bosca
3 Min
Logan Wastewater Funding hero
Infrastructure

Flush of Funding to Deliver 20,000 New SEQ Homes

Phil Bartsch
3 Min
Residential

Home Affordability Gap Widens Across Asia-Pacific

Lindsay Saunders
3 Min
Industrial

Inland Rail: Site at Rural Hub Comes to Market in Victoria

Lindsay Saunders
2 Min
View All >
ADVERTISEMENT
Article originally posted at: https://theurbandeveloper.com/articles/queensland-could-build-a-6bn-space-industry