The UK government is keen on growing its satellite communications sector, and in respect of this, the UK Space Agency recently announced £50m of funding for innovative projects that will supercharge the UK’s satellite communications industry.
The UK already has a fast-growing satellite communications industry and is home to some of the most qualified minds and companies in the space industry. But, the UK has historically been held back by a lack of domestic launch capacities.
This funding, which is part of the European Space Agency (ESA) Advanced Research in Telecommunications Services (ARTES) program, is available for a vast range of projects, such as developing new satellite constellations, the ground systems needed to access them, addressing lack of domestic launch capabilities or whole end-to-end systems delivering new services to customers.
The Uk is committed to developing its space capabilities and maximizing commercial opportunities, as they are crucial to the National Space Strategy, and part of the Uk plans to become a dominant power in space and build on a sector already worth over £16 billion to the UK economy.
Concerning this, The U.K. earmarked a total of 1.8 billion British pounds to partake in ESA programs over the next five years. Additionally, it recently committed £190 million mainly to participate in international telecommunications missions.
British Science Minister George Freeman said investing in space programs will help drive development and improve the resiliency of the U.K.’s economy.
UK Space Agency CEO Dr. Paul Bate added and said this funding will help UK companies that have the right knowledge and ambition to become international players in this market and lead on ground-breaking technologies that will improve the wider UK space sector, create jobs and generate more investment.
Although the U.K. has only reserved 50 million British pounds for satellite communications, the space agency said more funding is available if conceivable proposals exceed supply.
For more information to launch your investment fund and optimize your corporate structuring, please, contact your Damalion expert now.
