Accelerating the UK’s Growth in Space | IPT
Chair: Carol Monaghan MP, Vice-Chair, All-Party Group on Space
Speaker: Rupert Pearce, Chief Executive Officer, Inmarsat
Virtual Event

Date:

Thursday 16 July 2020

Venue:

This is an online event

Start Time:

16:00

End Time:

17:00

The UK space sector has tripled in value since 2000, representing income of £14.8 billion in 2016/17, 42,000 jobs and exports valued at £5.5 billion. The sector’s productivity rate is nearly three times above the national average. The UK had a 5.1% share of the global space economy in 2016/17, with ambitions to boost this to 10% by 2030. By this time the global space economy is estimated to be worth £900 billion. Currently, 40% of all small satellites in orbit have been built in the UK. The Government has committed to £20 million in funding to upgrade UK capabilities in space weather modelling and measurement, nearly £10 million towards the development of space ports as park of the LaunchUK programme, and the establishment of the first National Space Council. As the industry and Government work towards a National Space programme as part of a Sector Deal, how could the sector make the most of a growing market?

This event will:

  • Discuss prospects of further commercialisation, including meeting the target of space exports to make up 60% of revenue by 2030.
  • Consider the potential role space has to play in developing other industries including communications, data, climate change management, smart cities and transport.
  • Explore the future of UK space ports.
  • Review prospects for collaboration with Europe and beyond, including the UK-Australia ‘SpaceBridge’ agreement.