The new Australian Space Agency launched this week.

The agency will soon run a mission control and space discovery centre in Adelaide, offering visitors a live link to the International Space Station and the chance to interact with astronauts.

This week’s official launch event in Adelaide is the first step to Australia securing a larger share of the global space economy - tipped to be worth $1 trillion by 2040.

Addressing the Australian Space Forum after the opening, Prime Minister Scott Morrison said the centre would bring a range of benefits.

“Space captures the imagination and inspires us all. It develops new technologies that improve life on earth and it offers huge economic and job opportunities,” Mr Morrison said.

He said government is investing in a world-class satellite positioning capability in Australia, improving GPS accuracy and offering benefits for agriculture and the environment.

“Climate action now is about investing in space, investing in the technologies that help Australians deal with a changing climate,” he said.

“This is why I welcome the broader debate that hopefully we are now having about the climate in which we are living because it's not just about one issue, it's about many, many issues.”

Industry Minister Karen Andrews said the government want to create an extra 20,000 positions in the Australian space industry by 2030, and make it worth $12 billion domestically.

The agency currently employs just 20 people.

The Australian Space Agency has been in talks with NASA, Italy and Europe about opportunities to work together.

Additionally, the government has contributed $150 million into NASA's mission to Mars, hoping to help Australian businesses get involved.