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Events > The UK Space Investment and Race to Zero Mission 2022
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The UK Space Investment and

Race to Zero Mission 2022

5-12 March 2022

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UK SPACE SECTOR OVERVIEW
 
Space presents significant opportunities; the global space economy is projected to grow from an estimated £270 billion in 2019 to £490 billion by 2030. The UK space sector is a vital part of the UK's economy, worth over £16.4 billion per year and employing over 45,000 people in diverse and exciting roles as scientists, engineers, entrepreneurs, and innovators. The UK excels in the manufacture of satellites, spacecraft, highly complex payloads, end-to-end satellite service delivery, satellite communications, and high-end navigation systems. There are enormous opportunities to access private finance through space-oriented venture capital funds, such as Seraphim Space Investment Trust, supported by the British Business Bank.
 

 

Department for International Trade (DIT)
 
Supporting Investment in the UK Space Sector 
 
The UK government helps thousands of overseas businesses move here every year with expert help and advice. Deciding where to locate your international business is one of the biggest decisions you will make.
 
DIT can support your company with every aspect of the set-up process in the UK. As the UK Government's department leading on inward investment, it is our job to know the UK's strengths and where investment opportunities exist. DIT can help your company get all the information it needs, and get you up and running should you choose to invest in the UK. 
 
In Canada, DIT offers expertise and contacts through its extensive network of specialists in the UK, and staff in the High Commission in Ottawa and offices across Canada in Montreal (handles all space-related enquiries), Calgary, Toronto, and Vancouver.
 

 
Why the UK?
 
National Structure for Growth
  • A government target to account for 10% of the global space-enabled market by 2030
  • Developing the most modern space industry regulation anywhere in the world
  • Seven in ten organisations expect income growth over the next three years
  • Most space-related start-ups in Europe
 
Rich Heritage
  • The UK was the 3rd satellite operating nation in space
  • UK space industry has trebled in size since the turn of the century - outperforming the global space economy

 

Growing Commercial Opportunities
  • £300 billion of UK GDP supported by satellite applications and services
  • The world's first venture capital fund dedicated to space-related companies (Seraphim Capital)
  • The first European country with a planned mainland commercial launch service

 

Supporting Ideas and Innovation
  • 10% of direct GVA in the industry invested in R&D - six times higher than the UK average
  • Networks to connect firms to UK academia, industry, and world-class R&D infrastructure

 

The UK is Home to Leaders in the Global Space Industry 
  • Key players include Airbus, SSTL, Inmarsat, AAC CLYDE, Oxford Space Systems, Star-Dundee, Reaction Engines, and Thales Alenia Space.

 

An Attractive Location for Foreign Investment 
  • Examples of foreign companies that have set up a base in the UK include SatixFy, Astroscale, Deimos, Spire, Effective Space Solutions, siHealth, i-EM SAT Ltd, and CGI.

 
Key UK Space Agency Programmes
 
International Partnership Programme

A five-year, £152 million IPP uses the UK Space sector's research and innovation strengths to deliver a sustainable, economic or societal benefit to undeveloped nations and developing economies.

 

National Space Technology Programme (NSTP)

Funding industry, academia, and other (not for profit) government institutions, who are looking to develop technology and build new capabilities for the UK Space sector.

 

Space for Smarter Government Programme (SSGP)

Delivered in collaboration with the Satellite Applications Catapult to drive the uptake and use of space products, data, and services across government departments.

 
The European Space Agency (ESA)
 
UK is a Founding Member of the European Space Agency (ESA)

Membership of ESA brings benefits to UK companies including:

  • Companies can be part of programmes and activities far beyond the scope of any single European country.
  • Companies collaborate with space organisations all over the globe. 
  • UK is currently a lead funder of telecommunications, Earth Observation, and navigation within ESA.
  • The European Centre for Space Applications and Telecommunications (ECSAT) is based at Harwell in the UK, which also hosts ESA Climate Office and ESA/RAL Advanced Manufacturing Lab. 
  • The UK leads the world in science outputs from ESA missions. 
  • The ESA Business Incubation Centre UK is one of the most successful in ESA's network, headquartered at Harwell and with additional centres at Daresbury and Edinburgh.

 

ESA Programs

  • Technology: GSTP (General Support Technology Programme)
  • Telecommunications
  • Science and Exploration
  • Earth Observation (EO)
  • Robotics research and space
  • The future of in-orbit robotics

 
UK Innovation
 
Key Players in the UK Innovation Sector

 

Research and Development (R&D) Incentives

  • SMART R&D Grants
  • Supportive R&D Environment
  • R&D Tax Credit
  • Patent Box
  • Research and Development Expenditure Credit (RDEC)

 
Useful Resources