Forget orbital flop, UK space industry is booming
Major fund manager warns Virgin Orbit satellite failure has diverted investors from ‘real gold’ in UK space industry
The failure of the Virgin Orbit satellite has diverted investors from the “real gold” in Britain’s aerospace industry, a major fund manager warned.
Mark Boggett, who runs London-listed Seraphim Space, said bosses should focus on nurturing homegrown aerospace talent – rather than high-profile industry setbacks.
Lost in space: The first satellite mission from British soil failed to orbit in January because the rocket fuel filter came loose
The first satellite mission from British soil failed to reach orbit in January because the rocket’s fuel filter came loose.
Boggett said: ‘People are so focused on Virgin Orbit they have no idea where the real gold for the UK is – but it will become apparent’. The 51-year-old said the UK was a world leader and attracted more investment in space projects than any other country except China and the US.
Boggett’s comments follow warnings from across the industry that ‘difficult’ regulation in the UK threatens competitiveness.
Joshua Western, who heads satellite maker Space Forge, said: “The right questions are being asked, but the speed of the process is where we lose.” And Virgin Orbit boss Dan Hart said the regulatory landscape was ‘difficult’.