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- January 7th, 2014 Posted in Uncategorised

UK Space industry reflects on success and prospects as Britain tunes in to BBC’s Stargazing LIVE

 

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As all eyes turn to the skies with the return of Stargazing on BBC2, trade organisation ADS Group highlights the important contribution of the UK space industry and its strong future growth prospects with ambitious, innovative companies looking to take advantage of sector growth at home and overseas.

Currently, the UK space sector is worth around £9billion to the UK economy and comprises around six per cent of the world space market. However, as with other high technology industries, the UK harbours high value, specialist skills that have seen it become a  recognised expert in areas such as small satellites, software applications and telecommunications.

Paul Everitt, chief executive of ADS Group commented: “We might not realise it, but space plays an important part in each of our lives every day. From satellite navigation, to weather forecasting and supporting national security, our dependence on space infrastructure will continue to grow.

“What’s exciting is the UK’s role in developing this technology. We have a world leading capability in the space sector and the industry is a prime example of the high value growth that will help rebalance the economy for the long term. In fact, the sector is currently the fastest growing in the UK, achieving eight per cent growth year on year for the past decade. At this pace, the UK space industry will be worth £40 billion by 2030.”

ADS and UK Space are involved in many of the important initiatives that assist with growth in the sector. For example:

  • Supporting the establishment of the Satellite Applications Catapult Centre;
  • Helping make the case for increased UK funding to the European Space Agency;
  • Participating in the Space Innovation and Growth Strategy restack that helps shape the next stage of the UK space growth agenda;
  • Leading and participating in space trade missions across Europe and around the world to support UK companies looking to expand in new markets.

UK Space industry facts and figures:

  • The sector contributes over £9billion to the economy every year
  • The UK sector’s average annual growth rate is 10.2%.
  • The sector directly employs more than 28,900 people and supports a further 60,000 jobs
  • Government funding of £300m helps sustain an industry of £9.1bn, sustaining 83,000 jobs – one of the best returns on public investment in the UK
  • ADS and our partner association UKspace has around 150 members operating in the space sector
  • Space is critical to modern living: it intersects day to day lives in many ways that many don’t fully appreciate – from energy, security, safety, humanitarian and disaster relief, communications, navigation and health.

For more information on the UK’s thriving space industry, visit www.adsgroup.org.uk/pages/53809756.asp.

 

For more information and photos please contact Jenny Szweda at the ADS Press Office:

  • Tel: +44 (0) 20 7091 4521
  • Out of hours number: +44 (0) 7827 309 732

ADS is also on Twitter at www.twitter.com/ADSgroupUK.