As the global space race heats up, an increasing number of satellites is set to be launched into orbit by various companies working in the sector, according to the CEO of an
Australia
-based space start-up.
Much funding has gone into satellite activities that could benefit people on earth, and that includes new developments in areas such as satellite broadband internet, said Adam Gilmour from Gilmour Space Technologies.
“There’s been billions and billions of dollars put into what’s called ‘new space’ — and it’s really about how space companies with satellites can benefit people on the planet: the farmers, the people with mobile phones, the miners, logistics companies, the list goes on and on,” Gilmour told CNBC’s “Capital Connection” on Friday.
