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//Exploring New Markets
"Welcome to the Explore Markets page, a place where I hope you can find out more about the Catapult’s activities to look at a wider range of markets beyond our key focuses. I see this work as critical to adding true value to UK’s space industry by using the unique status that the Catapult has to hold open and honest conversations with potential customers of space services, and in sectors and geographic regions that have traditionally been hard to reach."
Richard Hilton, Director of Explore Markets
Recent Activities
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Exploring New Markets
Whilst the Catapult is focusing on a selection of market areas with intensity, there is a need to remain open to opportunities that reside beyond their scope. Similarly, smart decisions are needed to guide where the next intensive activities should be focused. “Explore Markets” is the place in the Catapult where this happens.
To guide this the following activities are undertaken:
- Top-level market assessments on a global scale and covering all potential market sectors
- Detailed market assessments on a few sectors over a period of 12-18 months to characterise the market, assess its potential for the space community and to build up a strategy and programme of work
- Support functions at both the regional and international scales as a pool of knowledge regarding key relationships and networks, as well as an understanding of relevant financial instruments to support exports.
Our Focus Areas
The markets we're currently exploring and why
Construction / Engineering
Improving the monitoring of infrastructures, enabling more cost effective maintenance to take place, has an additional benefit of minimising potential disruptions to users. We're also looking at changing the initial design and construction by reducing the amount of over-engineering that is included.
Nuclear
Significant budgets, critical infrastructures, traditional processes and a safety-minded culture means that the sector is often perceived as slow to evolve and lacking in incentive to change. We're looking at whether the space sector can transfer its know-how into this sector and make a significant impact to the UK economy.
Financial Services
This is a largely unknown and untouched market for the space sector but a huge market in general with a high volume of intelligence-led decisions requiring a competitive edge. We're exploring opportunities for satellite data to improve efficiencies within this market of which the first topic being investigated is Sustainable Finance.
Find out more about Sustainable FinanceEnergy
The energy sector is a huge market of opportunity for cost-efficient solutions, and we're exploring the applicability of satellite data for this area. We're looking at linking renewables (including domestic), increasing demand (e.g. electric cars), and network management to cope with domestic production. The approach to this market is still in its scoping phase.
// Get in touch
Click the button to get in touch with the Exploring New Markets team for collaboration enquiries or for further information on our work in this area.
