Government backs UK launch site plan for space tourism
The government has backed plans for a four-fold expansion of the UK space industry to £40bn by 2030. It is also considering developing the necessary legal framework to permit a spaceport to be set up in the UK. It is hoped that this might see the growth of new space tourism companies to start operating services in Britain.
There will also be a simplification of regulations and greater coherence to spur the creation of new space firms. The government made the announcements in response to an industry report published last year called the Space Innovation and Growth Strategy Action Plan.
The industry grew by 7% per annum during the recession. Space technology requires ultra-high precision engineering, which is a UK strength with a background in defence technology companies.
This, coupled with British strength in space science, makes it ideally placed to take advantage of the projected rapid expansion in low-cost satellite launches and space tourism. Space is already a multi-billion-pound industry.