INTHEBLACK October 2026 - Magazine - Page 29
“Satellite data creates value when organisations can turn
large volumes of imagery into timely, decision-ready
insights and embed them into everyday operations across
sectors such as insurance, infrastructure, energy, logistics
and public services.”
MICHELLE KHOO, DELOITTE
analytics talent, strong data governance, cyber
resilience and the confidence to integrate these
services into routine enterprise operations.”
THE IMPORTANCE OF SATELLITES
This year, the Artemis II lunar flyby mission
put space in the headlines again as the crew
travelled further from Earth than any humans
before, setting the stage for a scheduled landing
near the Moon’s south pole in 2028. Likewise,
an IPO for SpaceX and Starship V3’s
successful launch in May 2026 has put
interstellar activities firmly in the news.
However, space industry expert
Dr Cassandra Steer, chair and founder of
the Australian Centre for Space Governance,
believes the more nuanced story is around
the mass deployment of satellites in
space. They are critical to everyday life,
underpinning telecommunications, banking,
navigation, agriculture, weather forecasting
and disaster management.
“We would struggle to function without
these capabilities,” Steer says.
While nations such as the Philippines
are using satellite technology to mitigate
and inform responses to natural disasters
such as earthquakes, typhoons and
tsunamis, she believes Australia’s current
space campaign needs to be widened. Steer
says launching rockets and getting Australian
astronaut Katherine Bennell-Pegg into space
are worthy activities, but she advocates
for greater funding and momentum on
satellite capabilities. Currently, Australia
relies heavily on foreign or commercial
providers for satellite data needs, she says.
Steer suggests Australia should maximise
its strengths in areas such as the ground and
data segments of Earth observation satellite
systems that monitor land, oceans and
weather. “We have world-leading capabilities
in Earth observation data management.”
With nations such as Japan, India,
Singapore and South Korea investing
in satellite constellations and manufacturing,
Steer believes Australia’s proximity to these
markets — combined with favourable
launch locations and strong research
capabilities — presents opportunities
for collaboration and export.
FUNDING FOR SPACE INITIATIVES
For finance professionals, the race is
less about engineering milestones and more
about capital allocation, governance and risk
in a fast-moving ecosystem.
As Asia accelerates toward commercial
space models, investment is flowing into
infrastructure, data platforms and cross-border
partnerships — raising new questions around
regulation, cybersecurity and long-term
returns. Understanding how these regional
dynamics intersect with the Asia-Pacific’s
region’s ambitions will be the key for those
looking to engage with the next phase of
the space economy.
Khoo has no doubt that funding will
be critical to the continued growth of the
sector. Across the region, governments are
already demonstrating their commitment
through significant investments. She notes
that Singapore has committed more than
S$200 million (A$223 million) to space tech
research and development since 2022 and
Vietnam’s National Space Centre has made
more than US$260 million (A$376 million)
in total investment.
“These efforts are complemented by larger
commitments in more mature space economies,
including Japan’s plan to scale its Space Strategy
Fund to around US$6.6 billion (A$9.5 billion)
over the next decade,” Khoo says. She adds
that private investment will flow fastest where
commercial value is clear and proven. The most
investment-friendly opportunities will be those
that demonstrate measurable improvements in
resilience, compliance, underwriting, efficiency
or decision-making speed, “supported by strong
proof points, recurring demand and scalable
business models. The region now has a clear
opportunity to connect technology, capital,
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