Creating a dedicated space agency could help Australia tap further into the multi-billion-dollar industry, one of Europe's most prominent space leaders says.

In Australia for talks with industry and government, Dr Jean-Yves Le Gall, head of the French Space Agency, said Australia was entering a "new era" of space and a dedicated agency could help it navigate the future.

"I've seen in other countries when you want to be present in space, creating a space agency is a plus," he said.

"Because if you want to invest in space, costs are high and international cooperation allows you to share the costs, but also to share the benefits.

"Australia is very active in the field of space, for many years because Australia has been one of the first countries to have telecommunication by satellite.

"Now I think Australia is entering into a new era."

The Australian Space Industry Association estimates the national sector is worth about $4 billion a year, employing up to 11,000 people.

Satellites will help connect technology devices back on Earth to support a range of sectors. ( ABC News: Lauren Waldhuter )

Chair Michael Davis said it could double in size within five years with the right government support and the establishment of a dedicated agency.

"One of the problems we have in our industry at the moment is that there is no internationally recognised space agency in Australia for other space agencies to approach and to cooperate with," he said.

"You can't do much in space without international cooperation [and] we're missing out on opportunities."

Some in the industry say a "space revolution" is underway — the emergence of smaller, cheaper technologies to collect information.

"Jobs lie in the information we can collect from space," Mr Davis said.

"We're talking about telecommunications, positioning and navigation and which allow all sorts of industries, like agriculture and mining, to precisely track where they are.

"We're also talking about Earth observation, for environmental or disaster monitoring.

"It's one of the world's fastest growing industries so we don't we get on board and take advantage of that?"

Adelaide company to launch 100 satellites

Adelaide-based start-up company Fleet is preparing to join the "revolution".

Flavia Tata Nardini's company is going to launch 100 satellites into space. ( ABC News: Lauren Waldhuter )

The company has raised $5 million in capital to launch 100 satellites in a constellation, to connect technology devices back on Earth.

Chief executive Flavia Tata Nardini, whose career began with the European Space Agency, said Australia needed to ensure it wasn't being left behind.

"The revolution of space fits so well in Australia; low cost, quick development, application on Earth," she said.

"What's happening in space in the last 20 years is this new technology is coming online and you can launch a constellation of nanosatellites to cover the Earth for a fraction of the cost of all geo satellites — and why not?"

She said with the right support the sector could boom.

"I always say to everyone, the Government is thinking about it, and it needs to see successful stories," she said.

"So it's just a matter of opening their eyes and saying 'hey, Australia can do these things'."