Measuring the benefits
During a period of severe global economic difficulty, the UK space industry has built on and even increased its growth rates.
RapidEye in cleanroom.
Credit: SSTL
In the 2010 Size and Health of the UK Space Industry Study, the industry showed growth rates of 10.2% in the last two years compared with average growth rates over the last decade of 8.9%. Turnover has reached £7.5 billion and employment nearly 25,000, mostly with a very high level of qualification.
The contribution to UK GDP is also significant. The value added contribution ( i.e. turnover less all input costs) to UK GDP is £3.6 billion. When the value of purchases from UK companies outside the space industry is added in together with the value of their employees economic activity then the space industry's contribution to UK GDP is estimated to be £6.9 billion. It is an engine of growth for the UK economy with firm targets to increase that growth and take a larger share of the global market.
