Space sector spinouts & world-beating solutions


The race for space is a multinational endeavour. A new report from PwC highlights the UK’s unique position in attracting global talent and private investment. This while space tech establishes its significant role in driving economic growth and solving some of humanity’s most pressing challenges, writes Ruth Holmes.


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ross-border collaboration, multi-specialist teams and private investors are coming together to make blue-sky thinking about space exploration and innovation a reality – and for good.


In the last year, the number of UK and European


space start-ups grew by 50%. In the UK alone, the sector underpins and spins-out value annually to the wider economy of an estimated £370bn (18%) of UK GDP. A new report from PwC in collaboration with


the UK Space Agency, ‘Expanding Frontiers: the down to earth guide to investing in space’, describes these opportunities for capital investors and therefore international leadership and management. The consultancy’s analysis shows how acquisition


and consolidation are major themes in the investment landscape, opening the door for further international collaboration, innovation and cross-sectoral learning.


CROSS-SECTORAL LEARNING TO SUPPORT INNOVATION PwC’s report follows new government figures showing how the UK’s space sector is driving growth in the wider economy to the tune of +5.1% in real terms to £17.5 billion in 2020/21 – the second-fastest annual growth in the last seven years. Data in the government and Space UK’s ‘Size and


Health of the UK Space Sector Report’ further shows how the UK space sector is growing faster than the global average, with £635 million invested in UK-headquartered space companies last year. Acquisitions accounted for three-quarters of the total investment value. June’s Innovation Festival for Global Working


explored the practices and thinking behind the expansion of the sector and how it innovates with former NASA astronaut and Lockheed Martin’s Chief


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