Science Secretary Peter Kyle has lauded the recent accomplishments of the 海角视频 space sector, describing the 海角视频 as a "launchpad for innovation and investment."
The industry secured £80m more in contracts from the European Space Agency (ESA) than government contributions in late 2024, marking the highest return for any ESA member state, as reported by .
This achievement is expected to contribute over £1bn to the 海角视频 economy and create 3,800 high-skilled jobs, positioning Britain as a global leader in space innovation.
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Kyle emphasised that the sector's ability to attract top contracts is fuelling economic growth and advancing the government's 'Plan for Change.'
"These figures show not only incredible results of a government working hand in glove with industry to get even more bang for our buck, but also send a clear message to the private sector across the globe: when it comes to space, science and tech, the 海角视频 is a launchpad for innovation and investment," Kyle added.
Recent ESA victories include missions in space weather forecasting, lunar exploration, and satellite launches, all of which have 海角视频 firms leading their cutting-edge technology.
The global space sector is forecasted to triple to £1.4 trillion within the next decade, and the 海角视频 is positioning itself as a key player in the market.
With 16 per cent of the 海角视频's GDP reliant on satellite services, the government is ensuring Britain remains competitive.
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Dr Paul Bate, the 海角视频 Space Agency's chief executive, stated: "The reduction in the deficit is down to the efforts of the 海角视频 space sector. This result demonstrated the 海角视频's competitiveness in securing industrial contracts."
Josef Aschbacher, ESA's director general, added: "These new figures reflect ESA's commitment to developing one of the most attractive and innovative space economies in the world."