The New Space trend – an ongoing innovative transformation of the space sector – has led to a rise of investment in small launch systems. While an increasing number of nations are gaining access to space, the number of private sector entities investing in this domain is also rising. Meanwhile, small space launch vehicles and ballistic missiles rely on increasingly similar technologies.

Only three out of ten Southeast Asian states have joined the HCoC to date (the Philippines, Cambodia and Singapore). This limited rate is noteworthy as Southeast Asia is increasingly concerned by the ongoing ballistic missile competition in broader Asia. Moreover, the region is actively investing to benefit from space technologies.