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UK space sector income reaches £17.5 billion and the North East has the biggest income growth rate

The latest Size and Health of the UK Space Industry report was released at the end of March.

The North East was pin pointed as the UK region with the most significant income growth rate since 2018/2019 at 47 percent. The number of space organisations in the region has also jumped from 51 to 71.

The amount the UK space sector brings to the economy has grown by £1 billion, helping launch new business and create jobs across the country, according to new figures

This follows the announcement that the North East was successful in securing £296,000 in funding from the UK Space Agency to further develop the North East Space cluster in order to scale up the space economy in the region.

Read the full report here.


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