PwC-UK report shows maturing UK Space attracting private investment
The report – ‘Expanding frontiers – The down to earth guide to investing in space’ – highlights expected global space sector growth of up to 11% per year over the next decade. It also sees a near doubling of venture capital investments in space companies in the UK between 2015 and 2022, with 63% of investors being new to the sector in 2021.
Other findings include key areas of investment in the UK being Earth observation, manufacturing and satellite connectivity. And that nine of the largest UK venture capital firms have invested in space since 2015.
In regards to the maturity of the sector, 95% of space investments were in revenue-generating companies in 2022 compared to 56% in 2015.
In total, over $47bn of private capital has been invested across the global space sector since 2015, growing on average 21% per year. The UK received 17% of this inflow.
Taking into account government, non-commercial (universities and research institutes) and commercial organisations, it describes the UK sector as a “hidden utility” that underpins daily lives, supporting an estimated £370 billion of the country’s economy, mostly through satellite-based services.
“This report shines a light on the breadth and depth of space investment opportunities,” said Craig Brown, Director of Investment at the UK agency. “From today’s satellite communications to the future of orbital assembly, space has taken on an increased significance as a deeply embedded part of the global economy that is poised to grow at up to 11% per annum to 2030.”
“As the number of satellites above us increases dramatically, there are even greater opportunities to capitalise on the wealth of data they collect and on the international efforts spearheaded by the UK to keep the space environment safe and sustainable for generations to come.”
You can read an executive summary of the report here, and access the full report on the PwC-UK website.
See also: UKSA sizes UK space industry growth
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