Shoal and APAC congratulate Australian Space Agency on completing new space regulatory framework
Systems engineering firm Shoal Group and space business consultancy Asia Pacific Aerospace Consultants (APAC) today congratulated the Australian Space Agency for completing their outstanding effort in launching the new regulatory framework for the growing Australian space industry last week. The new framework has since attracted strong interest and been widely praised.
After achieving passage of the Space (Launches and Returns) Act 2018, the Agency has worked to develop the subordinate Rules including the associated Flight Safety Code and Maximum Probable Loss Methodology. Shoal and APAC worked closely with the Australian Space Agency during this process after having been awarded the Agency’s first technical services contract to revise the Flight Safety Code and Maximum Probable Loss Methodology including the development of a Maximum Probable Loss Estimator Tool.
“Shoal Group and APAC commend the Agency for reaching this important milestone for the growth of the Australian space industry,” said Michael Waite, CEO of Shoal Group. Managing Director of APAC, Kirby Ikin, agreed with a Government statement that, “the Government has revised the regulatory framework to remove unnecessary barriers to participation in our space industry,” and said that “Shoal and APAC have been pleased to inject their considerable space expertise into this important project by working closely with the Space Agency to modernise the regulatory landscape.”
Shoal and APAC are particularly pleased that this revised regulatory framework now aligns many of the Australian launch safety standards and insurance requirements with the best practice industry standards used worldwide.