U.K.’s new national industrial strategy allocated $67 million funding for new space launch sites and vehicles development

Briefing

U.K.’s new national industrial strategy allocated $67 million funding for new space launch sites and vehicles development

December 6, 2017

Briefing

  • New Industrial Strategy – British government announced new industrial strategy investing in key sectors, allocating $67 million (£50 million) for space industry initiatives, such as new launch sites and vehicles development
  • Space Industry Funding – Enables U.K. Space Agency to further collaborate with industry in developing new technologies, infrastructure and services, with improved launch capabilities operational by 2020
  • Proposals Received – 26 proposals submitted following call earlier this year, with internal shortlisting and announcement of winners to be announced soon
  • Expected Outcome – To establish U.K. as leading destination for space launch and increase global space market share to 10 percent by 2030, from current level of 6.5 percent
  • Market Opportunity – Intends to take larger share in growing demand for smaller satellites estimated to be worth $33.66 billion (£25 billion) over next 20 years

Accelerator

Market Disruption

Sector

Government (excluding military)

Organization

U.K. Space Agency

Source

Original Publication Date

November 28, 2017

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