If you’re investment planning in Cheshire, have you considered the space sector?
The UK space industry is currently growing faster than the overall general economy, bringing in over £17.5 billion annually. It supports around £360 billion in pioneering economic activity via satellite infrastructure, which is transforming the market by providing cheaper and more accessible satellite services.
UK SMEs (small and medium enterprises) in this field have been bolstered by greater government funding – through Innovate UK and The UK Space Agency – and the emergence of new tech such as satellite-based quantum key distribution, orbital refuelling, reusable rockets and in-space manufacturing through 3D printing.
Over 45,000 people are employed in the industry, and they are playing a significant role in the global space business, developing propulsion systems and satellite components as well as space data analytics. There are hopes that the UK could yet develop a SpaceX-style company over the next 10 years, and multiple launches are planned from UK soil in 2025, with British companies playing a major role.
The corporate venture arms of leading aerospace and defence pioneers such as BAE Systems and Airbus are investing actively in innovative space technologies at a time when this is becoming a major area of national security. From an investor’s perspective, this an exciting time for the industry and the number of mergers and acquisitions in the space arena has risen from five in 2013 to 27 in 2023 – with further consolidation expected in a market full of fresh and innovative businesses.
