NATIONAL CONTEXT
The global space market is predicted to reach £400bn by 2030, and the UK is aiming to capture a 10% share.
The UK government has high aspirations for the space sector, having committed significant investment, stepping up international collaborations, supporting one million STEM interactions with young people and investment to build national capability, such as deep space initiatives at Goonhilly Earth Station (GES) and Spaceport Cornwall.
Space is becoming more commercial, and to meet these new opportunities it is essential to harness the inspiration of UK innovators, and bring more people into this fast moving industry.
According to Alan Cox (Satellite Applications Catapult Chief Commercial Officer) “the space sector is a UK success story, with an ambitious vision to achieve a £40bn sector and 100,000 jobs by 2030”.
“The UK is considered a highly desirable location to incubate and innovate, and in recent years the number of Space commercial organisations has soared.”
“The space sector is changing fast and the increase in demand for satellite-enabled services is reshaping the sector and creating significant potential for growth. This demand is attracting new entrants, many of whom are focused on exploiting disruptive innovation to secure a share of the global space market.”
REGIONAL CONTEXT
The South West has positioned itself at the forefront of the developing UK space economy, and is playing an increasingly important role in the national space programme. The region leads the way on some of the significant innovations currently taking place in the world’s space sector, and is home to a wide range of businesses from groundbreaking start-ups to world leading pioneers.
In the far west, Cornwall is home to a dedicated horizontal launch site, the world’s most capable satellite ground station, deep space communications, earth observation, flight testing and satellite launches. It is rapidly becoming a world leading technology destination for businesses.
Also, a combination of world-leading environmental science capabilities, satellite data expertise, digital innovation strengths and commercial exploitation support can help to drive regional economic growth through satellite applications and associated innovations.
