How Southeast Asia’s spacetech industry can truly take off

These days, space isn’t just about exploring mankind’s final frontier.

Thanks to a surge in satellite launches since 2004, a lot of debris has been lingering in space – nearly 170 million pieces in earth’s lower orbit. That’s fueled a space cleanup market which is set to balloon to a staggering US$610 million between 2019 to 2014, according to Singapore Space and Technology Limited (SSTL), a non-profit advocating for the adoption of space-related technologies.

Image credit: Timmy Loen

For industry laggards in Southeast Asia, grabbing a slice of this pie, as well as other opportunities in space tech, seems like a long shot given the segment’s highly technical nature, a lack of policy and funding support, as well as a dearth in talent.

New technologies that are lowering the barriers to entry and increasing youth awareness, however, could draw the region closer to opportunities beyond Earth.

Dealing with space junk

Cleaning outer space is a complicated affair: Most satellites don’t have built-in propulsion systems to keep them at speeds necessary to stay in orbit, shares Simon Gwozdz, founder and CEO of Equatorial Space Systems (ESS). The Singapore-based startup develops rocket propulsion systems for space launch and exploration.

Another complication is the high variance in the size of orbital debris. These can be as small as a fleck of paint or a bulb from a satellite, or as large as a three-ton rocket body that could pose a “significant collision risk,” says Astroscale chief operating officer Chris Blackerby. The private orbital debris removal company is headquartered in Tokyo, Japan.

While dealing with space junk is difficult, not doing so poses far greater risks.

As recent as June this year, a piece of space debris collided with the International Space Station, leaving a puncture of 0.2 inches in the orbiting lab’s robotic arm.

Another reason to take space junk seriously is the potentially massive return on investment companies can make in cleaning them up.

According to a report by Morgan Stanley, the space industry could flourish into a trillion-dollar industry by 2040. The global space debris monitoring and removal market alone could generate close to an estimated US$29 million in revenue as early as next year, research platform Research and Markets suggests.

Governments must lead the way

Before companies can make the most of the burgeoning industry, though, they have to first contend with challenges on Earth.

Chief among these issues is that most space missions are still contracted by governments. In order to negotiate with local regulators for these contracts, space waste management startups need to have an international presence, Blackerby notes.

Calling space experts

Southeast Asia is about to blast off