UK Space Sector Income Reaches £17.5 Billion as Jobs and Services Grow.
28-03-2023
The UK space sector's income has reached £17.5 billion, as per the UK Space Agency's latest report.
The UK space sector includes the manufacturing of satellites, space launch services, and satellite applications and data services.
The industry has seen a rise in demand for satellite applications and data services.
The report also highlights the growth of the UK space ecosystem, with the number of space-related organizations rising to 1,590, creating 1,772 jobs.
The £1 billion increase in sector income and investment in the UK space sector is a clear indication of the growing confidence among investors and businesses toward the potential of the sector.
The report underscores the importance of the space industry to the UK economy and its contribution to areas such as telecommunications, agriculture, and environmental monitoring.