The UK’s space sector has blasted its economy boost up by a whopping £1 billion, sparking fresh jobs and new businesses across the nation, official figures reveal.
Space Boom Powers UK Economy
- UK space sector income rockets by nearly £1 billion in 2021
- Almost 1,800 new jobs created across the sector
- Number of space organisations jumps by almost 300
- Big growth hotspots include West Midlands, North West, North East, Yorkshire & Humber, Northern Ireland, and Wales
Despite pandemic turmoil, UK space firms held firm, pulling in £17.5 billion in 2021, up from £16.5 billion the year before, according to the latest Size & Health of the UK Space Industry report.
The sector now supports nearly 48,800 direct jobs and an estimated 126,800 more across the supply chain. It also grew from 1,293 to 1,590 space organisations last year, adding 1,772 jobs nationwide.
Government Cheers Sector Surge
Michelle Donelan, Secretary of State for Science, Innovation and Technology, praised the growth. She said the space sector’s spread across the UK is impressive, with Wales and Cornwall showing highest income growth, while Northern Ireland and northern England lead in new space firms.
Dr Paul Bate, CEO of the UK Space Agency, added:
“The £1 billion income boost and £635 million in investment highlights huge confidence in UK space. We’ll keep pushing to grow the sector, benefiting the economy, science, and planet.”
“Our world-class satellite tech and space missions keep the UK at the forefront. Regions like Northern Ireland, the North East, and North West are booming with new jobs and firms.”
Sector Resilience Shines Through
The 5.1% income jump outpaced global space industry growth (1.6%) and smashed the overall UK economy, which shrank by 7.6% in the same period.
Even with cost-of-living pressures, 60% of firms expect to grow income soon, 58% plan to hire more staff, and half aim to boost investments. Nearly three-quarters credit support from the UK Space Agency for their success.
Investment and Innovation Drive Growth
Private investors dominate, pumping an estimated £635 million into UK space companies across 34 deals in 2022. This investment spree dwarfs the one deal scored in 2012.
Big players like Par Equity, Innovate UK, and Scottish Enterprise have led many of these deals.
Case Study: Goonhilly Earth Station Rockets to Fame
Based in Cornwall, Goonhilly Earth Station is a key player in deep space communications. Last year, it supported NASA’s Artemis 1 lunar mission, controlling six cubesats onboard.
Goonhilly also backs European Space Agency projects and missions from Japan and India. It recently bought US-based COMSAT teleports and developed cutting-edge tracking tech used by Virgin Orbit.
Ian Jones, Goonhilly CEO, says: “Satellites are vital for everything from communication to climate monitoring, but they rely on ground stations like us to command and track them. We’re the unsung heroes behind space’s everyday magic.”
About the Data
The data comes from the 2022 Size & Health of the UK Space Industry report by know.space, covering the 2020/21 financial year. The report surveyed 1,590 UK space organisations and included 303 detailed responses.
While methodology improved, making direct comparisons tricky, the upward trends in income, jobs, and organisations remain clear. Full findings and caveats are detailed in the official report.
