Tonight’s historic space launch from Newquay Airport in Cornwall will see a repurposed 747 jumbo jet dubbed ‘Cosmic Girl’ release a rocket over the Atlantic Ocean, sending nine satellites beyond the stratosphere, into the cold vacuum of space.
It will be the first major satellite launch from British, nay European, soil, sending a payload of telecommunications, ocean mapping, navigation and military satellites in orbit.
The launch will also be a symbol of progress for the country’s fast-growing space industry.
Speaking to Proactive from the launch base, commercial space director of the UK Space Agency Matt Archer called it “the start of a new era in our space sector in that we’ll never have to send our amazing satellites to other countries to be launched”.
This new era that Archer speaks of marks a pivotal moment in the UK’s satellite launch sector.
“We’ve invested £50mln over the last few years to start this project at Spaceport Cornwall, but also to achieve Pathfinder launches in the Shetland Islands and Sutherland in Scotland later this year,” said Archer.
With the UK leading Europe in terms of launch capability, the commercial possibilities are big.
Generally speaking, the majority of R&D investment and innovation in the space sector comes from EU-based upstream businesses that maintain subsidiaries in the UK, but with the UK Space Agency’s funding programme, homegrown talent is expanding.
Orbex and Skyrora are two Scotland-headquartered companies manufacturing their own rockets. “Those companies simply wouldn't exist here in the UK if we hadn't invested in this programme,” Archer stated.
As for the Cornwall launch, while it is true that Virgin manufactured the rocket and the majority of its engine components in Long Beach, California, UK companies including In-Space Missions (a subsidiary of British multinational BAE Systems (LON:BAES)) and Space Forge in Wales were responsible for the satellites.
One small step
Britain’s civil space programme still has a way to go before being globally competitive. Public investment required to be a space-faring nation is astronomical, and even for an economy the size of the UK, going alone is not feasible.
For this reason, the UK remains a committed member of the European Space Agency (ESA), to which approximately 75% of the UK Space Agency’s annual budget – or £380mln – goes to.
The ESA reinvests 19% back into UK companies, making the UK a net contributor by a considerable margin, but the UK Space Agency believes that there is added value to the relationship.
“The strategic coordination and technical capability within ESA far exceed the capacity one might expect to establish in the UK… It would be challenging to replicate these international mechanisms within a national agency,” reads the agency’s official website.
Britain’s space capabilities won’t be competitive with NASA any time soon, particularly on the rocket manufacturing front, but in the satellite field, “we're aiming to be the strongest provider in Europe by the end of this decade”, according to Archer. “We're investing wisely, either through national programs or the ESA programs to build a healthy and competitive space sector knowing that there are elements to which we don't meet the same capabilities as the US.”
“I think for me, it's obviously a very exciting time to see the end of projects that the UK space agency has invested so heavily in, but I think also a real inspiration moment for the next generation,” said Archer, adding: “They can look at something that's happening right now on their doorstep, and they can get involved in that industry.”
With Britain getting serious on space, investment opportunities in the sector will see a marked increase as early-stage companies take to the market for early-stage funding.
Mark Boggett, chief executive of Seraphim Space Investment Trust sees particular potential in the field of climate and sustainability applications, potentially a trillion-dollar global market opportunity.
As such, Seraphim Space, the world's first listed fund focused on SpaceTech, has backed a number of startups involved in data mapping and weather tracking.
“The lowering cost of sending a kilo into space is directly driving the commercial market to develop capability in space that will positively impact planet Earth,” said Boggett. “It also levelled the playing field that its no longer the preserve of superpowers like the US and China.”
According to Boggett, “the UK wants to stake its claim on the future of the multi-decade growth opportunity presented by space”.
Could we see Britain's first space sector unicorn? Here’s hoping.