Electronics Weekly
The agency highlights a significant increase for the funds in-flow involving ESA programmes. An additional £112 million (€134 million) in contracts for the UK space sector between June 2022 and December 2024 from what was expected.
Also, the British space sector secured European Space Agency contracts worth £80 million more than government contributions in the last quarter of 2024. This is a record for any member state, the government states.
Geo-return
The ESA operates a “geo-return” policy, which aims for ESA members to receive economic benefits – via contracts with companies in the respective states – which are broadly proportional to their financial contributions to the ESA.
The current government, however, is flagging a redressing of the balance for the UK.
“These figures show not only the incredible results of a government working hand-in-glove with industry to get even more bang for our buck, but also send a clear message to the private sector across the globe: when it comes to space, science and tech, the UK is a powerhouse for innovation and investment,” said Science Secretary Peter Kyle.
“We are on a mission to deliver sustained economic growth, and it is fantastic to see such a vital industry helping us turbocharge our Plan for Change, ultimately raising living standards for everyone.”
In total, between June 2022 and the end of 2024, the UK secured £844 million (€1.01 billion) in ESA contracts, from an expected return of £732 million.
According to the UKSA, it means the UK now receives 99p back in contracts for every £1 invested, after overheads. Previously, the value of the ESA contracts had fallen short of the UK’s total investment. After overheads, in 2022 UK space organisations were receiving 93p back in contracts for every £1 invested, it says.
The new figures were released on the opening day of Space-Comm Expo in London.
Contract wins
“While the value to the UK economy of our membership of ESA is many times greater than the sums invested, it is important for us to demonstrate the UK’s competitiveness in securing industrial contracts ” said Dr Paul Bate, CEO of the UK Space Agency.
“First and foremost, the record figures announced today are down to the efforts of the UK space sector, so I would like to congratulate all those working on the new contracts. I would also like to thank the teams in ESA and the UK Space Agency for their hard work in delivering this exceptional result.”
Space
The agency states the UK space sector employs 52,000 people and generates an income of £18.9 billion a year.
Satellite services support wider industrial activity worth around £364 billion, – 16% of UK GDP.
Such space services also play a significant role in national security, it adds.
Image: UK Space Agency – UK Space Agency CEO Dr Paul Bate, UK ESA astronaut Tim Peake, Science Secretary Peter Kyle, ESA Director General Josef Aschbacher and UK ESA astronaut Dr Rosemary Coogan
See also: ESA funds lab spaces at Edinburgh’s UK Astronomy Technology Centre
