Space is now a vital component of the infrastructure that impacts the daily lives of all society. Over the past 20 years, the UK space community has built one of the most innovative, highly skilled sectors in the whole UK economy. We must, however, go further. Space is only growing in importance globally, as is the value of the space economy worldwide. The Space Growth Partnership (2018) identified the In-Orbit Services and Manufacturing (IOSM) market as one of the key growth areas of the UK space industry and a cumulative overall global market size for IOSM of greater than US$4.4 billion is projected by the end of this decade.
With significant strategic opportunities ahead, the UK needs to be a shaper of this evolving opportunity and must act now. In all segments, barriers to entry are high and with limited customers and national interests, it will not be possible to play a fast-follower role. To be successful, by 2025, we need to be able to capitalise on capability developed over the next few years and make big bets on the most promising opportunities that can be implemented by 2030.
We have a golden opportunity to secure a leadership role in these important sectors. With it, we have a bright, sustainable future for the space and satellite applications industry that delivers benefits for all.
