Thousands congregated at the weekend for an event of national and international significance. I am not referring to the AFL grand final in Melbourne, but instead the start of the International Astronautical Congress in Sydney.

This event is expected to draw more than 10,000 people from across the globe involved in the exponentially growing space sector.

And when I say exponentially growing, I mean it. McKinsey recently estimated the global space economy is worth US$630 billion and will grow 9 per cent annually to $US1.8t by 2035. To put this into perspective there are currently around 12,000 active satellites and this is projected to reach 60,000 by 2040.

Australia should be at the forefront of this revolution.

Our geographic location, vast open spaces, clear skies and homegrown talent

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