Space technology offers capability to raise competitiveness

Space technology can improve the competitiveness of Thai businesses, especially in the farm, transport and construction sectors, according to Krungthai Compass, a research unit under Krungthai Bank.

Phatcharaphot Nuntramas, the bank’s chief economist, said the global digital transformation trend has inspired the business sector to capitalise on space technology to deal with climate change, food insecurity and supply chain disruptions.

He said space technology would become a global mega-trend as more companies apply it to improve their operations, including the use of smart remote sensing to develop crop planting plans or smart cities.

Krungthai Compass analyst Apinun Suprasurt said space technology could be applied in various industrial sectors to reduce costs, mitigate the…