Minister Jones has announced a multimillion-pound investment in
Bristol's space sector from leading German space company OHB.
- New multimillion-pound investment from leading German space
company OHB to support Plan for Change by creating specialist
jobs in Bristol.
- OHB's UK expansion sees job-boosting new subsidiary at
Bristol & Bath Science Park to develop cutting-edge satellite
and spacecraft tech.
- Industry Minister announces investment in
keynote speech at opening of Farnborough International Space
Show.
The South West will benefit from a multimillion-pound investment
from leading German space company OHB, creating up to 50
specialist jobs in Bristol working on satellites and exploration
spacecraft, and supporting the government's Plan for Change in
delivering more skilled jobs, higher living standards, and
productivity growth in every part of the United Kingdom.
Industry Minister will announce the investment in
a speech to the Farnborough International Space Show today
[19 March], welcoming the news as a major win for the South
West's world-leading aerospace cluster, and the latest vote of
confidence in the UK's investment environment.
The Farnborough International Space Show, supported by ADS – the
trade association for the UK's aerospace, defence, security and
space sectors – will be a significant event for the space
industry, with 50 different countries exhibiting and many
high-value commercial deals expected to be signed.
OHB's initial multimillion-pound investment will create a new UK
subsidiary based at Bristol and Bath Science Park to develop
cutting-edge tech for satellites and spacecraft, and was secured
by the Department for Business and Trade working together with
the Space West cluster, Invest Bristol & Bath and the UK
Space Agency.
Industry Minister is expected to say:
The UK is open for business, and today's investment from OHB is a
major win for Bristol's world-leading aerospace and tech industry
which will create high-skilled local jobs and ensure the UK
remains a partner of choice for space agencies around the
world.
This is the latest vote of confidence in our Industrial Strategy,
which will give our space sector the certainty it needs to stay
at the cutting edge of global innovation, driving growth and good
jobs across the UK and showing our Plan for Change is working.
The British space sector generates £18.9 billion each year,
supporting over 50,000 jobs, and will be a top priority in the
Government's Industrial Strategy, which has identified advanced
manufacturing and digital & technologies as key
growth-driving sectors.
The UK's space workforce is also highly qualified and more than
twice as productive (2.3x) as the average UK worker, while the
global space market is expected to be worth over £1 trillion by
2035, according to the latest figures from global management
consultancy McKinsey.
OHB CEO Marco Fuchs said:
I am truly glad that we have finally established a presence in
one of Europe's key space markets. The Bristol region, with its
high-tech cluster, provides a great environment for OHB to
develop innovative and competitive space products and systems
from the UK for the national and European markets.
West of England Mayor said:
Today's announcement means more high skilled jobs for local
people – and that's fantastic news. OHB SE setting up shop in the
West of England is a big win for our region and a real rocket
boost for our space industry.
I'm really proud that they've chosen the Bristol & Bath
Science Park as their UK base. We're proving once again that this
is the place to be for world-class innovation, job creation, and
serious economic growth.
Kevin Craven, CEO of ADS welcomed the
announcement:
The UK space sector – a jewel in the UK's advanced manufacturing
crown - has seen impressive growth in recent years. The space
economy in the UK spans a wide range of capabilities employing
around 50,000 people, with strengths in small satellite
technology, sustainability, and emerging areas such as in-space
manufacturing, artificial intelligence, and quantum
computing.
Representing more than 500 businesses operating in space, ADS
wholeheartedly welcomes the ongoing commitment to developing our
sector throughout the country. Space will secure the UK's
domestic, future and technological advantage!
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