A new Space Sector Outlook published during Space-Comm Expo 2022 provides an overview of the space sector in the UK and its growing contribution to the economy.
The outlook has been produced by ADS (the UK trade association for aerospace, defence, security, and space organisations), with input from UKspace and support from the UK Space Agency.
Highlights from 2021
The Space Sector Outlook highlights that in 2021, the UK space sector’s contribution to the United Kingdom was:
£16.5 billion in turnover
£5.3 billion in exports
£6.9 billion in value add
47,000 direct employees
As well as capturing the space sector’s contribution to the United Kingdom, the outlook identifies new business opportunities for 2022 and beyond, which include: in-orbit servicing and manufacturing, earth observation, and UK launch.
‘Exciting opportunities for UK businesses’
Commenting on the outlook, ADS chief executive Kevin Craven said: “The UK’s space sector continues to flourish with many exciting opportunities for UK businesses. The UK is recognised as a world-leader in the space arena consistently using its space capabilities to improve everyday lives and better understand our planet.
“Working collaboratively with UKspace and the UK Space Agency, the 2022 Space Sector Outlook captures not only the important contribution of the UK, but also its strengths and opportunities as it continues to develop. ADS looks forward to working with government stakeholders and industry partners to ensure space remains a key strategic focus of the UK.”
‘Vibrancy of UK space sector’
UKspace chair John Hanley said: “UKspace was pleased to work with ADS to produce this outlook report which clearly demonstrates the vibrancy of the UK space sector, and covers some of the significant priority business opportunities spanning In-Orbit Servicing and Manufacturing, Earth Observation and Launch, supported by a policy landscape that should facilitate further growth around the entire United Kingdom.
“As an organisation, UKspace is working closely with all our members, as well as with stakeholders in government and academia, to ensure the whole sector’s value is recognised and invested in, allowing further strengthening of our position as a global leader in space.”Subscribe to the FINN weekly newsletter