Government of Australia Puts $50 Million toward New Space Agency

Government of Australia Puts $50 Million toward New Space Agency

Australia has entered the fast-growing industry of space. Recently, the country has received a $50 Million boost from the government toward a new space agency.

The country was far behind the other developing countries as the rockets required for the transportation of the satellites into the orbits were not available in Australia. Also, it was lacking the capability to launch the satellites. All these circumstances had delayed Australia’s entry into the space industry.

The advancement in the technology and the reusability of the rockets has drastically decreased the cost of space business. It has impacted Australia positively and opened the doors for the country to enter the space industry.

Anna Moore, a professor and expert reference group member for the Government of Australia, has asserted that $50-Million boost will work as a great foundation to set up the space agency. It embraces setting up the administration, the legal aspects, and the working across government.

The space industry in Australia has about 10% annual growth from last two decades. As per the belief of the experts, the space agency will create thousands of job opportunities in the country. It will also strengthen the sector and encourage the international skills in Australia.

Brad Tucker, the astrophysicist at Australian National University, said that Australia was one of the first countries in the space business. Now, with the launch of the first satellite, he was very happy with the decision of Government of Australia to pay much-needed attention to the issue. It is expected that the private sectors will contribute to finance and support to set up a national space agency.

Recently, Australia has been facing the shortage of liquid fuel. The liquid fuel stock had dropped down below to the stock of only 50 Days. To tackle the situation, the Government of Australia had launched an urgent fuel security review.

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