Sarawak reaches for space: Why the New Space Economy matters?

sarawaktribune.com Jul 26, 2026

Sarawak reaches for space: Why the New Space Economy matters?

Curated by Shubham · TechCapsules · Jul 26, 2026

AI-summarised brief · reviewed before publication

The global space industry has transitioned from government-dominated exploration to a commercially driven New Space Economy, characterized by private innovation and reusable technologies. Historically restricted to superpowers due to high costs, space access is now expanding through smaller satellites and diverse applications. The OECD defines this sector as encompassing public and private activities creating value through space exploration and utilization. A joint report by the World Economic Forum and McKinsey & Company valued the global space economy at approximately US$630 billion in 2023, projecting growth to US$1.8 trillion by 2035. This expansion, outpacing global GDP, relies heavily on downstream applications in communications, agriculture, and disaster management. Consequently, the industry’s fastest growth occurs on Earth through satellite-enabled services. Amid this transformation, Sarawak is strategically positioning itself to participate in this rapidly evolving global market, leveraging emerging opportunities within the broader technological and economic landscape.

💡 Why It Matters

· Sarawak’s entry into the space sector signals a strategic pivot toward high-value technological integration rather than traditional aerospace manufacturing.
· This move allows the region to capitalize on downstream data applications that drive modern economic sectors, bypassing the prohibitive costs of physical space infrastructure.

Capsules Space

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