An advisory panel that aims to provide independent, high-level strategic advice and recommendations concerning Bermuda’s space and satellite sector has been set up by the Minister of Home Affairs.

Alexa Lightbourne signed a ministerial direction, instructing the establishment of the Bermuda Space Advisory Panel, which would also oversee the development of an updated national space strategy, on Monday.

Members will assist the minister in identifying realistic opportunities for Bermuda to use its geographic position, orbital resources, international relationships, technical capabilities and established strengths in insurance, reinsurance, risk management and financial services to support sustainable economic development and Bermudian participation in the space economy.

They will also advise on potential career pathways, collaboration opportunities and risks.

The panel is advisory only; it is not a statutory authority, regulator, service provider, consultant or decision-making body.

Ms Lightbourne previously spoke in the House of Assembly about the work being done to reconstitute Bermuda’s Space and Satellite Advisory Panel.

She explained how the Bermuda National Space Strategy 2020-25 identified key opportunity areas for growth, but this was disrupted by the Covid-19 pandemic, leaving the previous panel unable to reconvene.

Speaking in May, Ms Lightbourne said: “The global space economy is already valued at over $600 billion and is projected to exceed $1 trillion in the coming decades.

“This is not a distant or speculative market. It is a rapidly expanding commercial sector with tangible opportunities today.”

She added: “The panel will produce two key outputs, a report that captures its findings and expert recommendations, and a road map that sets out Bermuda’s priorities and the practical steps required to move from opportunity to implementation.”

Earth stations are one of the priority themes assigned to the panel’s working groups, while another focus area will be Bermuda’s space-related assets, including its International Telecommunication Union orbital slots.