New Philippine Space Agency seen to capture $1.5-billion market

New Philippine Space Agency Seen To Capture $1.5-billion MarketThe planned Philippine Space Agency, or PhilSA, which has been announced last month by the country’s science and technology secretary, is expected to capture a market of $1.5 billion in the next ten years in aerospace, satellite manufacturing and launching, Enrico Paringit, executive director of the Department of Science and Technology-Philippine Council for Industry, Energy and Emerging Technology Research and Development, said, according to Business Mirror.

He also projected a 0.57-per cent GDP share in 2022 and over new 2,200 direct jobs once PhilSA is established. The bill creating the country’s national space agency is being discussed in Congress.

For example, local companies will be able to build space-grade components and can spawn an industry that can provide more jobs for Filipinos. Educational institutions will also groom data engineers and data scientists who will be working for collected datasets not only for the Philippines, but also for other countries.

The Department of Science and Technology said it has already “assembled the infrastructure, the human resources and the programmes and projects needed for the establishment of the space agency. There will also be incentives for the adoption of space technologies, and some industries, including semiconductors and electronics, have already expressed their commitments towards services they could offer for PhilSA.

The agency will focus on national security, improved hazard management, progressive climate studies, refined space research, as well as modernized farming and environmental monitoring, among others, and the department has already spent nearly $144 million for preparations such as space research and development, supported almost 5,500 scholars, produced more than 1,000 experts in space science and established 25 facilities across the country.



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The planned Philippine Space Agency, or PhilSA, which has been announced last month by the country’s science and technology secretary, is expected to capture a market of $1.5 billion in the next ten years in aerospace, satellite manufacturing and launching, Enrico Paringit, executive director of the Department of Science and Technology-Philippine Council for Industry, Energy and Emerging Technology Research and Development, said, according to Business Mirror. He also projected a 0.57-per cent GDP share in 2022 and over new 2,200 direct jobs once PhilSA is established. The bill creating the country’s national space agency is being discussed in Congress. For...

New Philippine Space Agency Seen To Capture $1.5-billion MarketThe planned Philippine Space Agency, or PhilSA, which has been announced last month by the country’s science and technology secretary, is expected to capture a market of $1.5 billion in the next ten years in aerospace, satellite manufacturing and launching, Enrico Paringit, executive director of the Department of Science and Technology-Philippine Council for Industry, Energy and Emerging Technology Research and Development, said, according to Business Mirror.

He also projected a 0.57-per cent GDP share in 2022 and over new 2,200 direct jobs once PhilSA is established. The bill creating the country’s national space agency is being discussed in Congress.

For example, local companies will be able to build space-grade components and can spawn an industry that can provide more jobs for Filipinos. Educational institutions will also groom data engineers and data scientists who will be working for collected datasets not only for the Philippines, but also for other countries.

The Department of Science and Technology said it has already “assembled the infrastructure, the human resources and the programmes and projects needed for the establishment of the space agency. There will also be incentives for the adoption of space technologies, and some industries, including semiconductors and electronics, have already expressed their commitments towards services they could offer for PhilSA.

The agency will focus on national security, improved hazard management, progressive climate studies, refined space research, as well as modernized farming and environmental monitoring, among others, and the department has already spent nearly $144 million for preparations such as space research and development, supported almost 5,500 scholars, produced more than 1,000 experts in space science and established 25 facilities across the country.



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Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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