The UK trade association for the Aerospace, Defence, Security and Space sectors, ADS, welcomed the Government’s commitment to a Space Industry Bill outlined in today’s Queen’s Speech.
ADS also called for the new Government to prioritise major political and financial backing for industrial strategy in this Parliament, and to deliver a good Brexit deal for the British economy.
ADS Chief Executive Paul Everitt said:
“The space sector is already worth £14bn a year to the UK and the Space Industry Bill announced today is great news for the industry.
“By paving the way for a UK spaceport and our own rocket and satellite launches, this commitment has the potential to generate significant further growth in the coming years.
“Our sectors look to the future with confidence, but this is no time for complacency. The Government must put renewed energy into industrial strategy, which has delivered real results and helps our manufacturing sectors boost their competitiveness and productivity.
“The Government must also refresh its approach to Brexit. No deal is the worst outcome for the UK and Europe, and the Government needs to build a strong consensus on the priorities and options for a successful Brexit.”
ADS published the latest facts and figures on the UK space sector this month, showing that the £14bn a year sector generated £5bn in exports in 2016. It has grown 71% since 2010 and employs 40,000 people, including 1,400 apprentices.
For more information on the UK’s Aerospace, Defence, Security and Space sectors, see: https://www.adsgroup.org.uk/facts/facts-figures-2017/.