A|D|S, the UK's AeroSpace, Defence and Security trade organisation, welcomed the publication of the Space Innovation and Growth Team report into the future of the UK space industry.
The UK space sector commands 6% of the global market, supports 68,000 jobs, generates £6.5 bn per year for the UK economy and has experienced steady growth of 9% per annum for several years, including during the current recession. A|D|S intends to assist in supporting the space IGT in a similar manner to that used with the successful Aerospace IGT.
Ian Godden, Chairman of A|D|S, said, “Space is one of the most exciting potential growth sector for the future of our economy. It represents what is best in our high-tech manufacturing and services industries. Though we often do not quite realise it, space is already having a large impact on our day-to-day lives through the widespread use of technologies such as broadband, 3G mobile phones and satellite navigation. The opportunities in these areas are only set to grow, with future applications seen to have beneficial uses in areas as diverse as climate-change monitoring to agriculture.
“Throughout the recession the UK’s space industry has been growing at a steady 9 per cent per year and this is still the tip of the iceberg. The future of the use of space-based systems will see a rapid increase in demand for our world-leading satellite expertise. With the global market being worth an estimated £400bn in 2030 the opportunity for the UK to grow our market share from its current level of 6 per cent to the 10 per cent set out in the IGT report would deliver enormous benefits to the UK economy.
“We therefore welcome the IGT report and look forward to studying its recommendations. We aim to play a central role in delivering a positive future for our space industry in partnership with Government and academia. This report is an excellent first step to achieving this and A|D|S will be assisting on several of the recommendations in the report.”
