Funding for space technology to lift off

Local businesses, students and families are being encouraged to "think big" and benefit from a renewed interest in space exploration and technology.

The Federal Government is positioning Australia for lift-off with a five year $150 million investment into businesses and new technologies that will support NASA on its inspirational campaign to return to the moon and travel to Mars.

Pearce MP Christian Porter said that the investment would mean new employment and business opportunities for the local community in Pearce.

"This investment is all about jobs here in Australia - it's part of our plan to triple the size of Australia's space sector and create 20,000 new jobs," Mr Porter said.

"That means expansion opportunities for our tech businesses, and it means career opportunities for our young people.

"We all know that STEM study is so important as we compete in a tech-driven, global economy.

"I hope this new funding for space technology fires the imaginations of our local young people and gets them more engaged with very real careers paths in the sector."

Mr Porter said the new funding would support Australian businesses to become more competitive in international space supply chains and to increase Australia's share in a growing US$350 billion global space market.

"Australian businesses and researchers will have the opportunity to showcase their immense knowledge and capabilities in projects that can support NASA's Moon to Mars mission, such as Project Artemis and the Lunar Gateway," Mr Porter said.

Mr Porter said the new missions would undoubtedly result in new technologies and benefits with much wider applications.

"Today space technologies boost a variety of industries including our farmers who use space capabilities to monitor the health of their crops and the location of their stock," he said.

"Emergency workers use it to track bushfires and scientists to study the effects and impact of droughts.

"The quest for scientific advancement and exploration always yields dividends and I encourage local young people in particular to engage in the opportunities this exciting sector brings."