More British rockets will take off after £121m boost
Britain’s space sector has been boosted by Jeremy Hunt’s announcement of a multi-million pound cash injection to launch more rockets from British soil.
The Chancellor has outlined a package of measures aimed at improving Britain’s competitiveness as a hub for new technology and scientific research.
Of that, £121 million was earmarked for the UK’s space industry, with the Treasury saying the money would support Earth observation from orbit and create ‘new capabilities’ for satellite communications technology.
The government’s investment will help meet the growing demand for satellite production and launch sites around the world.
Projects supported by the Treasury include the development of the North East Space Skills and Technology Center in Newcastle, as well as Cardiff-based Space Forge’s National Microgravity Research Centre, which is focused on developing new materials for use in the space.
Boost: The government’s investments will help meet growing demand for satellite manufacturing and launch sites around the world
While the fledgling industry was dealt a blow in January following the failed launch of a satellite from Cornwall Airport Newquay by Richard Branson’s Virgin Orbit, excitement has continued to grow.
In August, the British defense giant announced BAE systems made a big splash in the space sector by acquiring the aerospace arm of US company Ball Corporation in a £4.4 billion deal.
Britain’s space industry employs almost 50,000 people and added £7 billion to the economy last year, according to aerospace trade body ADS Group.