The UK is the most attractive destination for private investment in space after the US, according to a new report.
The PwC-UK Space Agency report offers insight on the wealth of opportunities found within the UK’s £17.5 billion space sector. The report highlights expected global space sector growth of up to 11% per year over the next decade and a near doubling of venture capital investments in revenue-generating space companies in the UK between 2015 and 2022, with 63% of investors new to the sector in 2021.
According to the report, the UK has been the leading destination for space investment in Europe – and second internationally behind the US – since 2015, receiving 17% of global investment.
The report details trends for new and established investors who are interested in growing their space portfolio, including opportunities with companies seeking to improve access to healthcare and tackle global climate change challenges, from decarbonising economies to increasing food security.
Speaking about the findings, Craig Brown, Director of Investment at the UK Space Agency, said, “This report shines a light on the breadth and depth of space investment opportunities.”
“From today’s satellite communications to the future of orbital assembly, space has taken on an increased significance as a deeply embedded part of the global economy that is poised to grow at up to 11% per annum to 2030.”
“As the number of satellites above us increases dramatically, there are even greater opportunities to capitalise on the wealth of data they collect and on the international efforts spearheaded by the UK to keep the space environment safe and sustainable for generations to come.”
Matt Alabaster, Partner at PwC Strategy, added, “This report shines a light on the substantial contribution that the space industry can make to solving some of our biggest global challenges, from decarbonising our economies to increasing food security and improving access to healthcare.”
“Our analysis shows that there are opportunities for investors of all stripes; the industry contains asset-light and technology-driven businesses, as well as infrastructure assets and supporting services businesses, all of which stand to benefit from the significant growth of the global space industry.”
