The Australian Government intends to review its space industry capabilities and develop a long-term plan to enhance the sector.

The results of the review could see the creation of Australia’s own space agency, reported Abc.net.

To be led by an Expert Reference Group (ERG), chaired by Commonwealth Scientific and Industrial Research Organisation (CSIRO) former chief executive Dr Megan Clark, the review will seek to ensure right framework and incentives for the country’s space industry to participate in the global market.

“This review is timely, given the current pace of change in the international space sector and advances in technologies that provide an environment that encourages commercial investment in space activities.”

The review will also consult and examine Australia’s current capability and comparative advantage areas, as well as its regional and international collaboration within the space sector.

It will also consider how the space industry will be able to collaborate with other sectors and the government priorities.

Australian Industry Minister Arthur Sinodinos said: “I believe that Australia can participate in the global space sector and through the development of the technical capability and knowledge required for this demanding sector, we will develop skills to grow other advanced manufacturing industries in Australia.

“This review is timely, given the current pace of change in the international space sector and advances in technologies that provide an environment that encourages commercial investment in space activities.”

The proposed review builds on Australia's current Satellite Utilisation Policy (2013) and the findings from the recently completed review of the Space Activities Act 1998.

This review will begin with the first meeting of the Expert Reference Group on 20 July and will be completed by the end of next March.