A $1Bn UK opportunity for In-Orbit Services
A specially commissioned report reveals the potential for the UK to lead in the In-Orbit Services and Manufacturing market
The UK Space Sector is uniquely placed to take advantage of a growing opportunity in the In-Orbit Services and Manufacturing (IOSM) sector, the Satellite Applications Catapult and Astroscale announced today. This market could be worth $1Bn to the UK space sector by 2030, with the potential to create value to the UK economy worth tens of billions in the medium to long-term.
The ‘UK In-Orbit Servicing Capability – A Platform for Growth’ report – specially commissioned by the UK Space Agency and delivered by the Satellite Applications Catapult, Astroscale and Fairspace, highlights the potential for the UK to become a global space leader in IOSM technology including space sustainability, debris removal, life extension services and licencing. These developments create important robotic operations capability that underpins larger, more strategic and longer-term opportunities as the in-orbit economy develops.
The report highlights that over the next 8-10 years, the UK Space Sector can:
- Capture $1Bn of the global in-orbit services and manufacturing market for the UK by 2030
- Unlock opportunities worth tens of billions to the UK in the future through the expansion of major in-orbit industries and infrastructure in space
- Enable important political, sustainability and national security imperatives through IOSM
Sam Adlen, Chief Strategy Officer at the Satellite Applications Catapult said:
“With this report, we are highlighting the opportunity the In-Orbit Services and Manufacturing sector presents for the UK economy. We have a chance to lead the world in this area if we come together in a co-ordinated way across Government and industry to shape these markets. If we get this right, the opportunities are unprecedented, encompassing concepts like large-scale manufacturing in space, direct to mobile connectivity, and space-based solar power. Working together, we can capture a major share of this market for the UK and unlock the value in the supporting industries it will create.”
John Auburn, Managing Director at Astroscale UK and Group Chief Commercial Officer said:
“To underpin the growth in mega constellations we need to increase our efforts to protect the safety and security of satellite services and the orbital environment for future generations. Active Debris Removal services and other in-orbit servicing capabilities are necessary for space sustainability and create rapid growth opportunities for the UK. These can be delivered through partnership, investment and regulatory advances. By mastering robotics, autonomous systems and rendezvous and proximity operations we open up large scale in-orbit manufacturing opportunities both in the UK and internationally.”