BANGKOK, Sept. 2, 2022 /PRNewswire/ — September 2, 2022: mu Space and Advance Technology Co., Ltd., a satellite manufacturer and satellite communication service provider, reveals plans to advance the business in the next 10 years. The company announced their intentions to continue to invest in building a network for the aerospace industry with aims to being a leading aerospace manufacturer in Southeast Asia. mu Space intends to build a 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. This project has received attention from the mass media and many leading organizations in the country.
Mr. James Yenbamroong, CEO & CTO of mu Space, revealed:
“mu Space has achieved great success in the development of satellites and High Power Systems. The importance of investing in 3 areas that are important to build networks in the space industry are Human Capital Knowledge, Equipment & Machinery and Raw Materials. 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, there are major media outlets and leading analyst groups estimating the rise in value of the global space industry. Reports suggest that by 2026, the value of the industry has the potential to rise from $3.1 billion to $7.4 billion, potentially contributing to drive Thailand becoming the center of the aerospace industry network. This will impact the country positively effecting the economy, education, technological advancement and in terms of creating jobs and careers. On top of that, expanding the positive results to spread widely covering the whole of Southeast Asia.
The “Thailand Space Supply Chain: A 10 Year Plan to being a fully developed Aerospace Manufacturer press conference held this time has received cooperation from leading organizations such as AIRBUS, a world-class aviation manufacturer, and Dr. Pakorn Apaphant from GISTDA (Geo-Informatics and Space Technology Development Agency).
Dr. Pakorn Apaphant had the following to say about the space industry:
“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. 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, such as leading investors, B.Grimm Joint Ventures – Private Electricity Industry of Thailand, as well as Majuven Fund, along with various private investors such as Executives from the University of California, Los Angeles (UCLA) Foundation, as well as many other industrial and technology-related investors both domestically and internationally. This allows mu Space to build a Space Supply Chain in the space industry quicker and more efficiently.
Those interested can watch the press conference at:
https://www.facebook.com/muSpaceTech/videos/1272137476855975/
SOURCE mu Space Corp
