The global space economy is projected to grow to about US$1.8 trillion ($2.29 trillion) by 2035, up from US$630 billion in 2023, according to a joint report by the World Economic Forum and McKinsey & Company. As satellite constellations multiply and space-based services become more tightly woven into daily economic activity, weaknesses across ground stations, control systems and supply chains are emerging as a systemic concern.
Singapore’s ambitions in the fast-growing space economy are colliding with a sobering reality. Much of the satellite infrastructure that underpins emergency response, navigation and financial transactions was built at a time when cybersecurity was not a design priority, says David Koh, chief executive of the Cyber Security Agency (CSA) of Singapore. “That means vulnerabilities today are not just in orbit, but across the entire space value chain,” he told delegates at the inaugural Cysat Asia conference in Singapore on Thursday.
The warning comes as Singapore prepares to launch its National Space Agency on April 1, positioning the city-state to take a more active role in a sector that is rapidly commercialising. Officials say the growth opportunity is significant, but the security risks embedded in legacy systems are becoming harder to ignore.
