The UK space sector is in a good place to expand as we recover from the COVID-19 pandemic. Know.space’s recent Size and Health of the UK Space Industry report commissioned by the UK Space Agency shows growth in both jobs and income as well as an increase in R&D investment.
The report, which looks at the 2018/19 tax year, shows a rise in income of 5.7% compared to 2016/17. Over 3200 jobs have been added and R&D investment has increased 18%. This increase is 5 times the national average intensity. Scotland’s space industry is thriving as it sees a 31% increase in space companiesScotland is home to nearly one fifth of all UK space sector jobs and produces more satellites than any other European country. This promising leap in the space sector is just the start as R&D ramps up and companies begin to take advantage of the government’s commitment to increasing innovation. We can expect to see plenty of projects and advancements start to form in the industry in the next few years.