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The UK Space Economy: The Present and Exciting Future

01 Feb 2012
Picture of planet Earth taken from space

Dan Lewis, Chief Executive of the Economic Policy Centre and Future Energy Strategies, sets out the exciting prospects for the space industry in the UK over the coming decade.

Key points: The UK space age isn’t a distant pipe dream. The turnover of the UK’s space sector has more than doubled in the past decade, largely off the back of satellite broadcasting, and seems poised for BRIC-style growth during the next.

The end of NASA’s Space Shuttle programme opens up opportunities for private sector space taxi innovation. Key cost metrics, including getting payloads into space, have been coming down gradually and could soon be set for a breakthrough. The UK Space Agency receives £268m from central government, making the £8bn space sector one of the least subsidised parts of the UK economy.

The key things that government can do include creating a supportive regulatory regime and licensing a spaceport in the UK.

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