(MENAFN) Australia will join the increasing global space industry with its own national space agency, which would be part of its investment into science and innovation.

However, the Australian project will not be the American "Nasa-type agency to put man on the moon", as proclaimed Education Minister.

In more details, it was the third nation, after the U.S. and the Soviet Republic to build and launch a satellite in 1967.

In addition, the global industry"s revenue is more than USD334.6bn annually and the sector has increased by almost 10 percent each year since the late 1990s.

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