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Report reveals continued growth of UK space sector 10.10.14

The UK Space Agency optimistic about the future

A report published by the UK Space Agency shows that the sector is currently worth £11.3 billion to the UK economy. Figures for employment show that the UK space sector directly employs over 34,000 people and that it supports a further 65,000 jobs in other sectors.

Speaking at the Royal Aeronautical Society Strategic Choices for Space – President’s Conference this week, Minister for Universities, Science and Cities Greg Clark launched the report and said “The UK space sector makes an impressive contribution to the UK economy and has consistently done so over the last decade, virtually doubling in size in financial terms since 2006. These figures show that the UK is well placed to meet our ambitious target of 10 per cent of the global space market by 2030.”

The regular reports on the ‘Size and Health of the UK Space Industry’ allow the UK Space Agency to track the progress of the sector and provide a metric against which the targets set out in the Space Innovation and Growth Strategy can be measured.

To download the report, visit Gov.uk