WELLINGTON, May 9 (Xinhua) -- New Zealand's space and advanced aviation industries contributed more than 2.5 billion NZ dollars (1.47 billion U.S. dollars) to the national economy in the past financial year, a government report said on Friday.
The space sector alone generated 2.47 billion NZ dollars in 2023-2024, with the advanced aviation sector, which covers emerging aviation technologies and overlaps with the space sector, adding another 480 million NZ dollars, according to the Deloitte/Space TrailBlazer Innovation for Growth report, released by Space Minister Judith Collins.
New Zealand's space sector is growing faster than the global average, with revenue up 53 percent over the past five years, said Collins.
"It shows the sector is creating jobs for New Zealanders, attracting billions of dollars of investment into New Zealand, and driving innovation and scientific advancement," she said.
The report shows the sector supports 17,000 jobs, up from 12,000 in 2019, and is largely homegrown, with 78 percent of surveyed companies employing a majority local workforce.
Collins reaffirmed the government's commitment to doubling the size of the space and advanced aviation sectors by 2030, citing a light-touch regulatory approach, which will significantly free up innovators to test their technology and ideas, and New Zealand's geographical advantages, as key enablers. (1 NZ dollar equals 0.59 U.S. dollar) ■
