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- May 19th, 2021 Posted in News

UKspace has welcomed the growth in revenue to £16.4 billion and people employed in the UK space sector to over 45,000, as detailed in the ‘Size and Health of the UK Space Industry 2020’ report, but is calling on the Government to provide leadership in partnership with industry and academia in pursuit of the 10% global market share target for the UK space sector by 2030.

The report, compiled by and published today by the UK Space Agency, is based on findings from 1,218 UK-based organisations with space-related activities, including 279 survey responses plus desk-based research of over 1,000 organisations. The research was undertaken during the ongoing COVID-19 pandemic.

UKspace Chair, Nick Shave, commented: “The modest increases in total space industry income and staff numbers across the space sector is clearly positive news, as is the encouraging rise in number of space companies, particularly SMEs. The critical importance of the space sector to the UK economy is also highlighted with services from satellites supporting or enabling over £360 billion in wider industrial activities across all nations and regions of the UK.

“However, we are appealing to Government for co-ordinated action to help propel the industry forward from our current global share of 5.1% – unchanged since the previous report – to achieve our joint government/sector ambition of 10% market share by 2030. We cannot be complacent now.”

Nick also identified the forthcoming National Space Strategy, which is due to be published in summer 2021, as the necessary catalyst “to set the framework for this co-ordinated action so we can capitalise on the great opportunity for the nation and this high-tech sector in the rapidly growing global space market.”

The 2020 edition of the ‘Size and Health’ report is the fourth one, following publication of the 2014, 2016 and 2018 editions.