Farnborough, 8 September 2022. – ADS (the UK trade association for aerospace, defence, security, and space organisations), published a new Space Sector Outlook yesterday providing an overview of the UK space sector and its growing contribution to the country’s economy.
The outlook has been produced with the help of UKspace and support from the UK Space Agency. Among its highlights, it states that the space sector’s contribution in 2021 reached a US $19 billion in turnover. This came from US $6.1 billion in exports, and US $7.95 billion in value add. The space sector in the United Kingdom also gives job to 47,000 direct employees and 2,300 apprentices.
In addition, the document identifies new business opportunities including in-orbit servicing and manufacturing, Earth observation, and UK launch. The outlook lists the policy priorities for the sector, noting the ones that have already been launched in the past two years. These are the National Space Strategy, the UK Defence Space Strategy and the Government’s plan for Space Sustainability.