Space Supply Chain 10-Year Plan Unveiled by mu Space
mu Space and Advance Technology has announced a 10-year plan to develop a space supply chain with a goal of becoming a leading aerospace manufacturer in Southeast Asia.
The ... three areas that are important to build networks in the space industry are Human Capital Knowledge, Equipment & Machinery and Raw Materials."
James Yenbamroong, CEO & CTO of mu Space.
The Bangkok, Thailand-based satellite manufacturer and satellite communication service provider intends to build a space supply chain for materials, equipment and goods related to the entire aerospace industry, from procuring satellite production materials and aerospace components, all the way to producing and assembling the product.
"mu Space has achieved great success in the development of satellites and High Power Systems. The ... three areas that are important to build networks in the space industry are Human Capital Knowledge, Equipment & Machinery and Raw Materials," said James Yenbamroong, CEO & CTO of mu Space. "It also requires cooperation from the government and private sectors involved, in order to create a sustainable network in the aerospace industry, mu Space is committed to promoting and supporting young Start-Up groups to gain experience and knowledge. As a result of that, we hope to see the space industry business steadily expand in Thailand and Southeast Asia."
According to economic reports on the space industry, analysts forecast that by 2026, the value of the industry has the potential to rise from $3.1 billion to $7.4 billion. A possible contributor to the forecast growth is the potential for Thailand to become a hub for the aerospace industry network. Such a development would positively impact the country's economy, education, technological advancement, job creation and careers. Additionally, the positive results could potentially spread through the entire Southeast Asia region.
"The role of the space industry has changed, originally involving only the governmental sector or Superpower countries. However, with the New Space Economy coming into action, the private sector has a strong hold in this industry," said Dr. Pakorn Apaphant. "Geo-Informatics and Space Technology Development Agency or GISTDA is regarded as the main organization that has contributed towards supporting and pushing the New Space Economy in developing the space industry. As well as pushing for government policies through the National Space Master Plan (2023 - 2037), which presents the guidelines for building the Thailand Space Supply Chain and making it a full-scale space industry."
Building a network in the aerospace industry, or having a Space Supply Chain to be truly complete and comprehensive, takes more than 30-40 years. mu Space is fully committed to create a supply chain in the aerospace industry with support from investors who see opportunities in this industry. This allows mu Space to build a Space Supply Chain in the space industry more quickly and efficiently, the company says.
(Image provided with mu Space news release)