Billion Pound export campaign to fuel UK space industry
by Staff Writers
London, UK (SPX) Jul 19, 2018
International Trade Secretary, Dr Liam Fox will today (Thursday, 19 July) announce the UK will be promoting space exports worth up to 1.5bn pounds in USA and India for the first time through a new marketing campaign.
The 'Space Export's' Campaign will see two of the world's fastest growing markets targeted with trade missions led by newly appointed HM Trade Commissioner Antony Philipson. In India DIT will also increase its operation by recruiting British space sector experts to work in market.
The campaign comes as 50% of the entire globe's satellites are built in the UK, highlighting the huge capability in country. The Trade Secretary will use the opportunity of leaving the European Union to make the most of global engagement with a sector that is growing 15 times faster than the rest of the UK economy.
The UK space industry's growth has been quick, doubling in size since 2010, with exports growing to 5.0bn pounds in 2014/15, or 36.4% of total income. The campaign will seek to increase the number of nations that are using the specialist products British businesses produce ahead of the UK's departure from the European Union.
International Trade Secretary, Dr Liam Fox MP, said: "Our space industry is thriving as years of strong growth has seen the UK secure its reputation as a leading space nation.
"To sustain this, we need to be reaching new markets with huge potential like India and the USA. As an international economic department, we'll achieve this through our new Space Exports Program, which will help meet the ambition of both Government and industry to see space exports reach 40bn pounds by 2030.
"With over a third of its business coming through overseas sales, the space sector is a great example of the benefits of seizing global opportunities which in turn create jobs back home."
HM Trade Commissioner to North America, Antony Phillipson, said: "The space sector in the US presents tremendous opportunities for high-quality British goods and services. We are both nations with a rich heritage in space technology.
"Through the UK Government's extensive and expert trade and investment network, British business will be well-placed to make a major contributions to jobs, just as US firms will be in the UK. Together we can boost jobs and economic growth in both countries."
Graham Peters, Chair of UK Space said: "The UK has a proud history of leveraging its space expertise to become a leader in commercial aspects of space. We are delighted to be working with Government to promote UK capabilities overseas to underpin the continued growth of the sector."
Dr Jaime Reed Industry Co-Chair of the Space Growth Partnership's Space Exports Group said:
"Industry and DIT have been working closely to build a solid evidence base demonstrating the potential for significant new UK business in major global markets. It's fantastic to see the Government committing to growth through these new announcements."
The Government is engaging with the sector to determine how best to create a Sector Deal with them that drives forward the modern Industrial Strategy. Low cost access to space is an important part of this, and there have been significant steps taken this week to enable small satellite launch from UK soil for the first time.
By opening their factory in Bangalore, Pattonair are aiming to tailor their supply chain services to customers in the region. When the new facility opens it will be the latest in a succession of British based companies in the city, with Airbus and Rolls-Royce also operating there.
Enhancing competitiveness of European space Sector with increased investments
Paris (ESA) Jul 16, 2018
ESA Director General Jan Worner and Vice President of the European Investment Bank (EIB) Ambroise Fayolle signed a joint statement on Friday enhancing the competitiveness of the European space sector by supporting investments in actors of the sector with promising short- or medium-term perspectives. The joint statement puts forth the intention of the two organisations to cooperate on devising joint support mechanisms in order to help create a level-playing field for European companies to grow and ... read more
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.