WPI Strategy, in collaboration with UKSpace, showcased how essential the space sector is to UK industry and jobs leading to the Chancellor announcing a new space innovation fund.

The report, entitled Securing our Future in Space, contained analysis which projects the huge contribution of the space sector to the UK economy, and to the levelling up agenda, by 2030. It argues that, with the right investment, Britain could very realistically double its share of the global space market to £30 billion by 2030.

Of the back of the new research, we presented the concept of a £150m ‘Space Innovation Fund’ and a supporting cost-benefit analysis to the Treasury.

The campaign resulted in the Chancellor announcing a space innovation fund and pledged the funding formally in the 2020 Budget. The fund is now in operation funding commercial projects.

You can read the full report here.