Singapore is set to launch its inaugural national space agency, the National Space Agency of Singapore (NSAS), on April 1, 2026.

This initiative is anticipated to fully unleash the potential of space technology applications within this burgeoning economic sector.

The ambition now extends beyond the sky to the cosmos itself.

We examine several companies that may benefit from this new development.

ST Engineering (SGX: S63): Strategic Government Collaboration in the Space Sector

Beyond designing and manufacturing satellites, ST Engineering's Defence & Public Security division jointly owns Earth-observation satellites with the Singapore government, delivering satellite imagery and analytical services.

Concurrently, its Urban Solutions & Satcom division specializes in the ground segment infrastructure for satellite communications, ensuring continuous contact with these satellites from Earth.

In the first nine months of 2025, the Defence & Public Security segment accounted for 44% of revenue, while Urban Solutions & Satcom contributed 15.9%.

Collectively, these segments represented nearly 60% of ST Engineering's revenue—a significant portion likely to expand with the formation of NSAS.

Overall, the company's revenue for the first nine months of 2025 increased by 9% year-on-year to S$9.1 billion, supported by broad-based growth across all divisions.

This performance is underpinned by a record-high order book of S$32.6 billion, providing multi-year revenue visibility.

ST Engineering raised its total planned dividends for fiscal year 2025 by 27.8% to S$0.23 per share, utilizing proceeds from the divestment of non-core assets to enhance its portfolio.

This action aligns with its goal of sharing value creation with shareholders.

Singtel (SGX: Z74): Advanced Geospatial Analytics Driven by AI

While ST Engineering focuses on satellite design and co-ownership, Singtel's Digital InfraCo unit offers project-based satellite deployment services, aiming to build a larger ecosystem for AI-related infrastructure.

This infrastructure could support NSAS by providing customized geospatial data analytics for government agencies, potentially driving significant growth for the Digital InfraCo segment, which currently contributes just 3% of revenue.

For the nine months ending December 31, 2025, group revenue saw a modest 2% year-on-year increase to S$10.6 billion, with strong performance from NCS and Optus offsetting softer results in traditional mobile and broadband services.

Net profit for the period surged 110% to S$5.3 billion, primarily due to one-time gains from partial divestments and a merger.

For the half year ended September 30, 2025, Singtel increased its interim dividends by 17% year-on-year to S$0.082 per share.

Given that Singtel's regional affiliates already provide connectivity services across the Equatorial region, the establishment of NSAS could further strengthen their market position.

Addvalue Technologies (SGX: A31): Enhancing the Space Economy

As a comprehensive developer of satellite communication products, Addvalue Technologies is well-positioned to align with the goals of the new space agency.

For the six months ended September 30, 2025, revenue increased 54% to US$8.8 million, with earnings soaring 3702% to US$2 million year-on-year, driven by growth in both its Advanced Digital Radio and Space Connectivity divisions.

Its Space Connectivity business, centered on the Inter-Satellite Data Relay System service, contributed US$3.2 million, representing 37% of total revenue for the period.

Using specialized terminals, the company provides a unique, near-real-time data communication solution tailored for the commercial low Earth orbit satellite industry.

In addition to growing terminal sales, Addvalue anticipates rising recurring revenue as more satellites are launched in the coming year.

The Space Connectivity segment constitutes US$10 million, or 55.6%, of the group's total order book, indicating strong revenue visibility for the next 12 months.

Having recently returned to profitability, Addvalue does not currently pay dividends, making it less suitable for income-focused investors.

Strategic Insight: Capitalizing on Space Sector Expansion

The establishment of Singapore's space agency is expected to catalyze an entire ecosystem of investment opportunities, with key beneficiaries including:

• ST Engineering, through its defence and satellite co-ownership arrangements with the government.
• Singtel, as a critical provider of digital infrastructure necessary for NSAS operations.
• Addvalue Technologies, which serves the commercial low Earth orbit market with its proprietary data relay technology.

These companies are strategically positioned to influence the development of Singapore's emerging space economy.

For investors, this represents a chance to participate in a promising new growth frontier.