...recently announced decision to invest in new space research. As part of its National Space Technology Programme, the U.K. Space Agency and the Technology Strategy Board will grant nearly 6 million pounds to co-fund research that will develop commercial products and services using space technology and data from space-based systems.
"The U.K. government's funding announcement is recognition of the potential for space technology to stimulate economic growth," said Rob Spurrett, President of COM DEV Europe (CDE). "Our own company has doubled its U.K. staff in the past three years to keep pace with three years of record orders. Today 80 percent of our sales are to export markets, and we have ambitions to continue to grow."
The climate for space companies within the U.K. has never been better, with the U.K. government being prepared to underwrite the industry's ambitious growth plan with investment in key research and development activities. It has been recognised that investment in emerging technologies can lead to very significant economic benefits, with the UK being one of the leading exporters of space technology. The economic multipliers on such investments make them a very attractive mechanism to fuel the growth of high technology industries that are required to lever the country out of recession.