Earlier this week, International Trade Secretary Dr Liam Fox unveiled an ambitious ‘Space Exports’ campaign to help the UK space industry create new export links with the likes of India and the United States (US) post-Brexit.
The first-of-its-kind campaign comes at a time when research suggests that almost half (40 per cent) of all the world’s small satellites are built in Britain – and the UK’s space industry is expanding at a rapid pace.
According to the Department for International Trade, the industry has “doubled in size” since 2010.
In 2014/15, the latest financial year covered by the Department’s data, space industry exports grew to £5 billion, or 36.4 per cent of total income, it says.
Due to these successes, Dr Fox has said that he would like to embrace the opportunity of leaving the European Union (EU) to help Britain’s space sector engage globally with non-EU nations.
“Our space industry is thriving as years of strong growth has seen the UK secure its reputation as a leading space nation,” he said.
“To sustain this, we need to be reaching new markets with huge potential like India and the USA.
“As an international economic department, we’ll achieve this through our new Space Exports programme, which will help meet the ambition of both Government and industry to see space exports reach £40 billion by 2030.”
Further information about the new Space Exports campaign can be found on the GOV.UK website here.
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