UK Space Agency unveiled
The government hopes the agency will give the UK space sector some 'muscle'.
The Government has unveiled the new UK Space Agency.
Announced last year, the replacement for the British National Space Centre is expected to help organise the 6 billion UK sector and improve communication with the European Space Agency. It will start operating on 1 April.
The Government also used the launch event to announce an International Space Innovation Centre at Harwell, Oxfordshire.
The 40 million centre will work with the ESA to use space data to investigate climate change, advise on space systems' security, and analyse data from observation satellites.
Science and Innovation Minister Lord Drayson said: "The action we're taking today shows that we're really serious about space. The UK Space Agency will give the sector the muscle it needs to fulfil its ambition."
Looking to the stars
The Government sees the space industry as a wise choice for investment, believing that the 6 billion UK sector could be worth 40 billion to the economy, creating 100,000 new jobs in the next eight years.
Business Secretary Peter Mandelson said: "The 6 billion space industry is one of Britain's real success stories. Year on year it provides more jobs both directly and indirectly to the UK workforce."
"This is exactly the kind of high value-added industry we need to support as we rebalance our economy, creating sustainable growth and the jobs of the future," he added.
Read on to find out how much space is worth to Britain.
The case for a marketing content hub
Transform your digital marketing to deliver customer expectationsDownload now
Fast, flexible and compliant e-signatures for global businesses
Be at the forefront of digital transformation with electronic signaturesDownload now
Why CEOS should care about the move to SAP S/4HANA
And how they can accelerate business valueDownload now
IT faces new security challenges in the wake of COVID-19
Beat the crisis by learning how to secure your networkDownload now