- New Space Sector Export Academy to upskill space-sector
businesses
- Continued support for Leicester Space Park to become a
High Potential Opportunity (HPO) for foreign investors
- Latest in series of economic-support measures to help
sectors across the UK build back better.
- UK space exports reached £5.5 billion in 2019, with the
sector generating over a third of its income from exports.
A series of
measures to support the UK’s space sector in building
back better have been outlined by the government today.
The cutting-edge sector, which currently employs around
42,000 people in the UK and supports approximately 15% of
the UK’s wider GDP through space-based services, will
benefit from measures that will boost exports and
investment, including:
Investment promotion:
- Continued support of the Leicester Space Park as a HPO
for foreign investors, following on from its launch in
Spring 2019.
- The HPO scheme identifies opportunities to attract
foreign direct investment into emerging sectors and regions
– creating new jobs and growth.
- Use of GREAT campaign branding to build a suite of new
space-specific marketing material for external events.
Export support:
- Set up a new virtual Space Sector Export Academy to
provide training to SME space businesses and increase
international trade, investment skills and knowledge
Government coordination:
- Working with other government departments and local
partners to reduce trade barriers and support international
partnerships to generate commercial opportunities.
Minister for Exports, said:
The UK’s vibrant and innovative space sector continues to
push new frontiers. But, like so many, the sector has
been hindered by the pandemic and it is vital that we
provide support today to create the exciting
opportunities of tomorrow.
The space sector generates more than a third of its
income from exports. We want to help businesses grow
their exporting, and measures like the Space Sector
Export Academy will upskill Space SMEs to do just that.
Science Minister said:
The UK’s space sector has shown incredible resilience
throughout the past year, and it’s critical that we help
to get this dynamic industry growing faster so that we
can establish Britain as a leading player in the
commercial space race.
This package of government support will enable UK space
businesses to flourish, creating highly skilled jobs
while driving forward innovative new products that will
help improve all our lives, as we build back better from
the pandemic”.
UK Government Minister for Scotland, said:
We are entering a new era for the space industry and for
space exploration, and Scotland is a key player in the
industry.
The UK Government is driving investment in Scotland’s
space industry, with funding at an all time high.
The space sector will be an important part of Scotland’s
economic future, bringing highly skilled jobs and
investment to Scotland.
Nick Shave, Chair of UKSpace said:
The Covid-19 pandemic has had a significant impact on the
UK space sector, particularly due to lower export demand
and reduced inward investment confidence.
We welcome this package support measures that the
Department of International Trade has created. The
measures will help innovative UK companies to position
space technology and space-enabled services in the
fast-growing global space market which is predicted to
grow to over £400 billion per annum by 2030.
Space has real potential to be a major UK industrial
success story if government and industry works closely
together in partnership via initiatives like this DIT
Space Sector Covid Support Plan.
These measures are the latest in a series of
economic-support announcements to help sectors across the
UK, from Agri-food &
drink and tech, to
retail &
consumer to education, build
back better from the pandemic through overseas trading and
government support.
The latest package follows the UK-Australia Space
Bridge signing on 23 February 2021. The partnership
will increase expertise and investment, enhancing
cooperation and alignment between the UK Space Agency,
Department for International Trade, Austrade, and the
Australian Space Agency to coordinate opportunities for
governments and companies to work on space-related
activities.
A virtual roundtable will be held on 1 March 2021 on the
announcement and the support it will provide for
space-sector businesses. Those interested can register to
sign up here.
