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Scottish space industry eager to double growth by 2030, study says

Berlin, 30 September 2020. – The Scottish space industry could be eager to double its ambitious growth projections in the next ten years from £2 billion to £4 billion, a recent study conducted by Scottish Enterprise revealed.

“The rise of the space sector is apparent in the figures from a recent study conducted by Scottish Enterprise that forecast income from the sector could reach over £2 billion by 2030 as well as contribute data solutions to combat climate change,” the public Scottish business agency said.

“The industry ambition is to double income to £4 billion over the next ten years and with a rate of growth of 12% year-on-year it is on a steady path due to the commercial responsiveness in what’s described as the ‘new space’ operating environment.”

The growth ambitions are driven by three areas, the agency said: space applications, manufacturing and operations as well as auxiliary services. Scottish Enterprise supports space companies like Spire Global, Celestia, Clyde Space and Space Intelligence.

The Scottish Minister for Trade, Investment and Innovation, Ivan McKee, said: “Our ambition is to capture the substantial economic benefits of the emerging global space sector by ensuring Scotland becomes the first country in Europe to provide an end-to-end solution for small satellite manufacture, launch and innovation in satellite data analysis, including critical earth observation and environmental data.”

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