WeChat QR Code

Home>News Center

US space companies are crossing the Atlantic, bringing rocket launches to the UK for the first time

2018-08-05 06:25:47       source:CNBC

August 5, 2018

A host of U.S. companies signed partnerships with the United Kingdom Space Agency (UKSA) in July, with several more waiting in the wings, as the British government doled out funding for launching commercial rockets from the island for the first time ever.

The U.K. manufactures more small satellites than anywhere else in the world, owning 6.5 percent of the $384 billion space economy. The U.K. currently produces about 44 percent of the world's small satellites, and has extensive facilities to operate those satellites once active.

The UKSA intends to grow its stake in the market to 10 percent by 2030, which will likely be worth more than $109 billion at the time, according to Bank of America estimates. To achieve that growth, UKSA is working to attract rocket companies that specialize in launching small satellites.

Read more: