Good morning, everybody. It’s a pleasure to be here with you on this Canberra morning. I want to acknowledge the Ngunnawal and Ngambri people and all First Nations people present and recognise their continuing contribution to the land, waters and sky. 

I also want to acknowledge my colleagues, Steve Georganas, the member for Adelaide, and Senator Dave Sharma. Steve and Dave lead the parliamentary conversation on space capabilities, and this is an important role, a role that they fulfil with bipartisanship and with energy. And they show off to our parliamentary colleagues the growing capabilities that Australia has in space, in satellites, in rockets, in communications. And I think it’s very important that we have two energetic leaders showcasing this industry in the Parliament. So, thank you, Dave and Steve, for your work. 

I also want to acknowledge Erika Olson, Chargé d’Affaires of the US Embassy. Space has been one of the core elements of the Australian relationship with the United States, and I have no doubt it will continue to be an important part of our ongoing relationship. 

I want to acknowledge Helen Wilson from the Department of Industry, Science and Resources, who provides so much support to the space industry in Australia. And I want to acknowledge you, too, Dan. Thank you for the invitation. Thanks to the work you do in the Space Industry Association, and for the opportunity to be here. 

Australia has played a key role in space for a long time. You’ll all be very familiar with the Canberra Deep Space Communication Complex at Tidbinbilla, the work on rocketry and satellites at Woomera, the leadership role CSIRO has played in radio astronomy and spacecraft communication for more than 60 years, and the important work being led by Enrico and the Australian Space Agency. This great history and the great organisations that we have in place today are the foundations of Australia’s future prosperity. And this, I think, is one of the most prospective elements of this industry - its future potential to drive prosperity, economic growth and innovation in Australia. 

There are estimates that the global space industry may be worth up to $1.8 trillion by 2035. McKinsey has predicted rapid growth in the sector, and while I’ve only recently been appointed as Assistant Minister, I saw the potential of Australia’s space industry when I worked with it in my former capacity in 2021 to analyse the scale and scope of the market opportunity for Australia. And what I saw was a sector growing three times faster than the overall economy, a sector with the opportunity to deliver high-paying jobs in areas like advanced manufacturing and R&D. And half a decade on, we see this potential being realised and the opportunity for much more. 

To take just two local examples, just down the road, the ANU’s Institute for Space is helping build Australia’s first lunar rover as part of NASA’s Artemis program. A little bit further away, in Reid, Skykraft is developing a global air traffic management system using a constellation of satellites manufactured right here in Canberra. Skykraft launched five more satellites with SpaceX last week, bringing it closer to its goal of making air travel safer, more efficient and more resilient. 

And these successes come from the great strengths that Australia brings to the space industry – our geography, our highly skilled and talented workforce, and our internationally competitive industry. But capitalising on the opportunities from space is not without its challenges. There are technology risks, funding uncertainties, supply chain issues and cold, hard commercial realities for a small market like Australia. So, the question is: what does it take for us to take these opportunities, to take our domestic capabilities and really become a leader in space technologies?

This industry and all of you in this room have shown boldness, energy and resourcefulness – traits that Australians have in spades. We have some very smart people, a stable institutional environment, and we are globally competitive in a number of sectors, like autonomous systems, robotics, biotechnologies. But it takes government backing to support these technologies in a market like Australia and take them forward. And so, too, it will take government backing in space. 

And that’s why I’m pleased that the Future Made in Australia agenda is about having the right policy settings and support mechanisms in place to enable us in areas, including but not limited to space, to maximise our comparative advantage, to strengthen our sovereign capabilities, to drive economic resilience, and ultimately make this a more secure and prosperous nation. 

The Future Made in Australia agenda also seeks to correct the conditions under which private investment can be accelerated, and important to this mechanism is having a responsible regulatory environment that ensures safety while supporting entrepreneurialism. And I commend the Australian Space Agency for their effort in this. 

We also need to help crowd in private investment, and that’s why the government’s $15 billion National Reconstruction Fund has an important role to play. Up to $1 billion of this fund has been targeted specifically for critical technologies in the national interest. Up to $3 billion has been earmarked for renewables and low-emission technologies that frequently rely on other enabling technologies. And it’s great to see the NRF is already backing the space sector. Many of you will know about the NRF’s recent $25 million equity investment in Myriota. This will allow this growth-stage company to further develop its network, technologies and infrastructure. To give you some idea of Myriota’s potential, it’s raised $80 million in capital since its inception. 

And the government is committed to support this type of entrepreneurialism and activity in the space sector, and so where financing instruments like the NRF aren’t the appropriate tool, we also have the Industry Growth Program. And the goal of the Industry Growth Program is to help businesses overcome challenges in the crucial early stages of development to scale up their operations. The Industry Growth Program recently awarded $5 million to Gilmour Space, and I want to congratulate Adam and James Gilmour and their team, who are working hard to launch Australia’s first-ever domestically designed and produced rocket. This will be an important milestone for Australia, and the government is very excited about the potential of these initiatives. 

I could go on about the kinds of supports that government provides, like the work being led out of CSIRO or the Cooperative Research Centres Program, but I want to take some time to talk about the future and how I see space in the context of the government’s agenda. The government’s productivity agenda is anchored in a commitment to economic resilience, budget sustainability and innovation. Technology adoption will be at the heart of this. 

We have no greater opportunity to drive productivity in Australia than to embrace and adopt new technologies, and space is an important part of this agenda. It’s intertwined with the industries that will drive Australia’s growth, keep us safe and develop our capabilities. From logistics to agriculture and mining, from weather tracking to environmental monitoring and disaster response, your success will be core to the success of our economy. You are a vital capability that can lift productivity across sectors, reduce costs, drive innovation and create new markets. 

And this capacity to grow and access new markets is important. Australia’s space sector competes globally, and has global opportunities. Australia’s unique geographic location means we’re well suited as a destination for space launches and returns. We have commercial spaceports already available and rockets and small satellites under development. Our international alliances and partnerships are a way for us to capitalise on these advantages. 

The Australia-US Technology Safeguards Agreement came into force in July 2024, and it provides the legal and technical framework for US commercial space vehicles to launch from Australia. The TSA also has the potential to open new commercial opportunities in a range of space-related advanced technologies. 

Beyond this we’ve also signed agreements with the US as part of the Artemis program. The collaboration to design and build the Roo-ver for a future NASA Artemis mission led by the Australian Space Agency will be another great showcase for Australia’s space capabilities. These are powerful signals that the world’s premier space nation trusts Australia and wants to do business here. 

I’ll also take a moment to offer my congratulations to Dan and the team. The International Astronautical Congress will be in Sydney in two months’ time. This is only the third time that Australia has hosted this event, and it’s a great achievement by all of you and one that we’re all looking forward to. It’s a great opportunity for us to tell the world about Australian capabilities, about Australian businesses that are doing great things on the world stage. 

As I said earlier, I’m only a few months into my appointment as Assistant Minister for Science, Technology and the Digital Economy. I know there’s still a lot to learn about space and the space industry, but what I feel and what I already know is that the future of technologies and their impact in Australia is not a given. Their potential is limitless, and their value to Australia is critical. Technologies like these will be the backbone of many of the transformations that we so badly need across Australia to lift our innovation and drive our productivity. 

I have confidence that everybody in this room will be part of that journey to seize the opportunity. I hope this forum goes well, and I look forward to working with you all. Thanks very much.