Space is no longer the exclusive domain of governments and large enterprises. Today, lower barriers to entry are enabling a wider range of private companies and non-traditional players to explore opportunities in the space sector. This democratization of access to space marks a turning point for startups and industries beyond aerospace, allowing them to harness the power of space-driven technologies to innovate and grow.
The space economy is expanding steadily and is already having a tangible impact across a wide range of industries on Earth. Southeast Asia—with its burgeoning startup culture and dynamic, youthful economies—is well-positioned to play a meaningful role in this booming sector.
A joint report by Deloitte and Singapore Space & Technology (SST) Think Tank, “Space to Thrive: Southeast Asia’s Space Industry on the Rise,” outlines emerging opportunities and charts the development of space-related industries across the region.
Emerging technologies and infrastructure
Advances in space innovation are making cutting-edge technologies, data, and communication networks more accessible to industries that previously lacked the means to utilize them.
One notable example is Earth observation (EO) data, which refers to satellite imagery that supports environmental monitoring, logistics, infrastructure planning, and more. Powered by advancements in space infrastructure, EO data is becoming increasingly sophisticated and actionable. Businesses are using it to optimize operations, forecast trends, and develop services based on precise, real-time data.
In Southeast Asia alone, the value derived from EO data was estimated at around USD 15 billion in 2023. Projections suggest this figure could triple to USD 45 billion by 2030, with broader adoption cumulatively contributing an additional USD 100 billion to the region’s GDP between 2023–2030.
Beyond EO, other space technologies are transforming how industries operate. For example, enhancements to global navigation satellite systems (GNSS) enable real-time tracking capabilities that enhance regulatory compliance, supply chain traceability, fleet management, and location-based services. Resultant gains in precision and transparency drive improvements in efficiency and safety.
Additionally, advancements in satellite communication now provide improved global connectivity, even in remote or underserved regions, expanding access for businesses and governments, thereby improving infrastructure and creating new commercial opportunities.
Southeast Asia as a growing hub for space startups
Southeast Asia is emerging as a key player in the global space economy, fueled by a surge in space-related deal activity, a fertile environment for startups, and strong governmental support. Its growing integration into global value chains and attractiveness to foreign investors further reinforce this potential.
Between 2021–2025, the number of space-related deals in Asia soared from around 40 to 181, making Asia the second most active region globally based on deal volume, trailing only North America, which saw 207 deals.
Meanwhile, Southeast Asia’s economic relevance is also growing. In 2023, it accounted for 17% of total global FDI, up from just 5% in 2016. This highlights the region’s expanding role in global value chains and its appeal as an investment destination.
Governments in Southeast Asia are taking concrete steps to develop space capabilities and capitalize on the opportunity to attract more investment in the industry. For example, Enterprise Singapore supports SST Think Tank’s accelerator program, providing funding, mentoring, and industry network access. The region’s dynamic ecosystems, strategic location, and openness to international collaboration also provide fertile ground for startups to innovate, scale, and thrive in the space economy.
In addition, governments across the region are also setting ambitious targets for the space sector, with a focus on supporting and nurturing local startups. For instance, Singapore has committed over SGD 200 million (USD 155.3 million) to its “Space Technology Development Programme,” including a recent SGD 60 million (USD 46.6 million) top-up, focusing on developing capabilities relevant to Singapore’s core industries like aviation, maritime, and sustainability. These are areas where local startups are encouraged to innovate and contribute, exemplified by programs like PIER71, to foster a competitive and innovative ecosystem in the maritime space, and the Sustainable Aviation Hub to promote the development of green aviation fuels.
Malaysia has also set a bold target for its aerospace sector, aiming for a valuation of USD 2 billion by 2030. To achieve this, the country aims to establish 500 space-related startups and create 5,000 jobs. Thus far, it has invested heavily in space infrastructure, with over 90 government agencies already leveraging space tech. Malaysia’s commitment is exemplified by its Space Technology Complex and Space Operation Complex, facilities dedicated to advanced space operations.
Meanwhile, Indonesia, the first Southeast Asian country to establish a space agency back in 1963, has developed its expertise in satellite communications and rocket launches. Expanding satellite connectivity is core to Indonesia’s national agenda due to its archipelagic geography, and the country has plans to deploy 18 imaging satellites in 2025 alone. Indonesia’s thriving startup sector—boasting more than 2,700 startups, the highest in ASEAN and sixth globally as of 2024—is well-placed to unlock opportunities in the space sector.
Thailand has set its sights on becoming a global space innovation hub by 2043, guided by its “National Space Master Plan.” More than 35,000 local enterprises have been engaged with or benefited from space-related solutions.
The Philippines is also targeting space capability by 2030. Its space ecosystem has gained momentum since the establishment of the Philippines Space Agency (PhilSA) in 2019. Despite its recent origins, PhilSA has already made significant progress in catalyzing the country’s space economy. Besides signing 11 agreements to establish relations with various space-related organizations, PhilSA plans to launch 11 satellites over the next decade, aligning with national development goals and opening doors to a wealth of commercial and research partnerships.
Additionally, Vietnam’s startup ecosystem, ranked 56th globally in 2023, is expected to serve as a key enabler of space sector development. It benefits from supportive government policies, such as the “Digital Infrastructure Master Plan” and “National Green Growth Strategy.” Space applications are expected to play a key role in these targets, especially in environmental monitoring and data analysis.
How startups can “step into” space
Space technologies are becoming integral to modern information infrastructure. Startups that use space-derived data to generate insights and create value are best positioned to tap into a growing range of commercial opportunities.
In Southeast Asia, EO technologies are expected to have the greatest impact on agriculture, mining, and the oil and gas sectors. These fields could account for nearly 80% of the additional USD 100 billion in GDP projected from EO adoption in the region.
With opportunities to integrate space-based tools into existing business processes, startups in these sectors can explore space innovations to solve local challenges and unlock growth potential.
For instance, satellite data is already being used to predict oil price movements, track global shipping, and forecast agricultural output. Companies in the region are increasingly employing satellite imaging to optimize trade routes, reduce inefficiencies, and mitigate disruptions in global trade.
Malaysia has integrated EO data into supply chain risk analysis, helping industries track logistics efficiency and mitigate asset risk across its USD 372 billion trade network. For example, Malaysian startup UrbanMetry utilizes geospatial data and novel indicators to provide market intelligence to real estate investors across asset classes. By mapping areas prone to landslides and floods and overlaying this information with loan data, the company enables more comprehensive and informed climate risk evaluations. This is particularly significant for logistics assets, whose exposure to extreme weather can significantly disrupt supply chains and economic activity.
Meanwhile, in Indonesia, EO data is supporting precision agriculture, enabling better crop management and resource allocation. The Roundtable for Sustainable Palm Oil (RSPO) uses satellite monitoring to track plantation activity and ensure adherence to sustainability standards.
Thailand-based startup Ricult provides smallholder farmers with free access to localized weather data, farm advisory services, and farm health monitoring powered by satellite imagery. These tools enable farmers to time their planting, fertilising, and harvesting activities to maximize agricultural productivity, while satellite-based analysis of their crops and land provide collateral to access farm loans.
These examples show how startups can play a meaningful part in the space economy by applying satellite data to solve practical problems and differentiate their offerings. Beyond that, partnerships with government agencies, international institutions, and other stakeholders can further amplify their impact.
With the right mix of investment, policy support, and technical capacity, Southeast Asia has the potential to build a robust and inclusive space economy. For startups and businesses willing to explore space-powered innovation, the opportunity is both real and growing.
About the author: This article was authored by Michelle Khoo, leader of the Deloitte Center for The Edge Southeast Asia. With over a decade of experience in advising business and government leaders on long-term strategies, Michelle is passionate about shaping a more sustainable, fairer, and inclusive future in both physical and digital realms. Her work revolves around artificial intelligence, sustainability, the metaverse, disruption, and innovation.