The UK Space Agency today published findings from its 2018 survey of the size and health of the UK space sector.
This report finds significant positive movements since the 2016 survey was conducted, including:
- UK space sector income rising to £14.8bn from £13.7bn in 2016
- Employment rising to 41,900 from 38,522
- Exports up to £5.5bn from £5bn
These figures show UK space sector growth has accelerated, recording 4.5 per cent in 2016/17, more than double the rate of the previous year, with strong growth also expected for 2017/18.
Commenting on the new figures, ADS Chief Executive Paul Everitt said:
“The space sector is a major success story for UK industry. We are recognised world leaders in satellite manufacturing, ground systems and components, and satellite applications and technology.
“It is no accident that this sector is making a growing contribution to UK prosperity, as usage of space technology grows while costs fall.
“There is great potential for this innovative sector to continue growing in the years ahead, delivering more high value jobs around the UK. It is important for industry and Government to work closely together to make this a reality, ensuring that our advanced and valuable UK capabilities in this field are sustained.”