£ 10M
Funding announced by UK Gov for the commercial spaceflight market in Feb 2017
Space underpins our daily lives . The sector employs more than 38,000 people all over the country and supports over £ 250 billion in output across the wider economy . The UK space sector is a success story and it ’ s continuing to grow , accounting for 6.5 per cent of the global space economy .
Space technology and data is used in a wide variety of industries , including many that might come as a surprise , such as insurance and finance . A variety of partnerships are vital to the success of the space sector as the breadth of activity it covers is so complex . From science to industry , developing components and instruments , through to assembling and launching satellites – not to mention the analysis and use of the data and signals that return from satellites .
Capturing the market The UK Space Agency is working to position the UK as the world ' s leading space business environment and to assist the sector ' s ambition to capture 10 per cent of the global market by 2030 . It is important to identify where government action or investment can unlock step changes in space science and innovation , as typified by the Agency ’ s support for the development by Reaction Engines of SABRE ( Synergetic Air-Breathing Rocket Engine ) – a new class of engine that can operate in both air-breathing and rocket modes . This enables SABRE-powered vehicles to save carrying over 250 tons of on-board fuel on their way to orbit , and removes the necessity for massive throw-away first stages that are jettisoned once the onboard fuel has been used up . This allows the development of the first fully re-usable space access vehicles – resulting in huge financial savings and reduced waste .
The majority of the sector ’ s current turnover and predicted growth is from space-enabled applications that provide commercial services to end users through computers , tablets and smart phones in sectors as diverse as transport , agri-tech and energy . This requires new thinking and new skills to be brought into the sector – including user-driven design .
The public sector can use space data and services in a variety of ways , from flood modelling and management
Read online at : ukspa . org . uk / breakthrough spring 2017 | UKSPA breakthrough | 45