'Opportunities to invest': Experts say space business needs boost in Canada

With a long history in the space industry and a pocketful of healthy companies, Canadians are good at both. But industry executives and experts say the country needs a booster to maintain an advantage in a sector poised to, well, skyrocket.Sign up to receive daily headline news from Ottawa Citizen, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.

“Miniaturization got to the point where you could do something useful with a very small satellite,” Germain said. “We were looking for that opportunity that wound up being GHG emissions.”Article contentIn November, Canadensys Aerospace Corporation announced it would build a lunar rover for NASA’s next moon mission. Weeks before, MDA Ltd., which also operates satellites, announced the second sale of their Canadarm technology to a company building a private space station.

It all adds up to an industry worth about $5.5 billion a year that employs about 23,000 highly trained Canadians, according to the Canadian Space Agency’s most recent report.The European research agency Euroconsult pegged the entire value of the space economy — launch rockets, satellite communications and Earth observation — at about $500 billion in 2021. By 2030, Euroconsult says it will reach $860 billion.

He quotes the Euroconsult report that concludes Canada’s share of the global space budget is half what it used to be.Advertisement 7Countries such as the United States and the United Kingdom have a high-level body to ensure the interests of the space economy remain in the forefront. Many in the Canadian industry say this country needs the same.

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