The space sector provides some great opportunities for traditional and new entrants to the supply chain. It’s a market hungry for new technologies and engineering solutions. Recently, there have been a number of articles indicating that the space sector has a strong propensity for growth, highlighting that the global space market is forecasted to double by 2030. The UK space industry aims to double its share of the world market from 5%-10%, with revenues set to grow from £7.5bn in 2009 to £40bn by 2030.
This lucrative sector is split into two segments – upstream and downstream.
Upstream (satellite / launcher / ground station) opportunities include:
- Deployment of new technologies in space
- Critical technology capability (EU technology independence from US export regulation)
- Improving delivery and operation of space systems (smarter, faster, cheaper)
- Security of the supply chain
Downstream (satellite services) opportunities include:
- Burgeoning market for services deriving part of their data from space assets
- Consumer and B2B services
- Location-based services
- Integrated applications (combinations of data to form value-added services)
To learn more about the space sector and the overview of space opportunities, please contact us.