Global satellites soon to contribute more than £370bn to UK economy
With global satellite services currently contributing more than £370bn to the UK economy, the UK Space Agency has launched a new programme to help more businesses use satellite data and services.
Unlocking Space for Business is an 18-month programme designed to bring the vast potential to hundreds of new organisations across the UK.
The programme includes workshops, networking events, learning and development sessions and online resources to support companies in their understanding of what satellite data and services can mean for them.
“With UK space open for business like never before, sectors as diverse as transport and finance have a huge opportunity to bring the benefits of satellite data down to Earth and improve their operations, deliver for customers and ultimately grow their industries.
“Unlocking Space for Business will build on the multi-billion-pound contribution of space to the UK economy, helping to create jobs and economic growth while driving forward our ambitions to make the UK a science and technology superpower” said George Freeman MP, Minister of State at the Department for Science, Innovation and Technology.
Companies who take part will also be offered the opportunity to bid for a share of up to £6m UK Space Agency funding nearer the end of this year to help launch innovative pilot projects, data procurement or partnerships.
The programme will focus on the leading transport and logistics, and financial services sectors.
As the cost of accessing space continues to fall and the speed of innovation increases, a rising number of businesses are now able to use satellites to their advantage, harnessing enhanced imagery, connectivity and navigation capabilities.
One of the opportunities that satellites provide businesses include satellite imagery, which improves the measurement of climate variables and verification of customer insurance claims after extreme weather events.
Others include satellite positioning and navigation to support location tracking, and satellite connectivity to help crew and passengers keep in touch with operators and families on shore.
“[Unlocking Space for Business] will help catalyse further investment into our growing space sector and deliver greater benefits for businesses, people, and the environment,” said UK Space Agency chief executive, Dr Paul Bate.
“This is just one of the ways we’re working to deliver the goal set out in the National Space Strategy to build one of the most innovative and attractive space economies in the world, developing new skills and creating jobs.”