Astroscale UK has announced insights from an Economic Impact Report that focuses in on economic growth, job creation and regional development.
The report underscores Astroscale’s pivotal role in enabling growth in the UK’s space economy and aligns with the UK Government’s National Space Strategy (NSS) to propel the nation toward becoming one of the most innovative and attractive space economies in the world.
This announcement comes on the anniversary of the official opening of Astroscale’s dedicated UK facility at the Harwell Science & Innovation Campus, Oxfordshire, which includes state-of-the-art satellite integration cleanrooms, mission operations facilities, and offices for 180 staff.
The independent study focuses on Astroscale’s “End-of-Life” service, ELSA-M, which will enable LEO constellation operators to act responsibly in space, demonstrating its significant contribution to the UK space ecosystem. The ELSA-M program is projected to contribute £2 billion in revenue for the UK space industry over the next 10 years, accelerating economic growth and prosperity. The report underscores Astroscale’s pivotal role in enabling growth in the UK’s space economy, how it will help position the nation as a science superpower and reveals these fundamental aspects of Astroscale’s ambitious ELSA-M program…
Fueling Job Creation and Innovation: Support for more than 12,000 high-skilled, high-paid jobs across the UK, fostering innovation and expertise in the rapidly growing space industry.
Driving Regional Development: Locating an impressive 56% of expenditure outside the South-East and London, boosting investment opportunities across the whole of the UK.
Empowering Economic Growth: Delivering £23 per £1 return on public investment, showcasing Astroscale’s ability to maximize value for the UK economy.
ELSA-M is paving the way for Astroscale’s UK Active Debris Removal (ADR) mission, COSMIC (Cleaning Outer Space Mission through Innovative Capture). Targeting two defunct British satellites, COSMIC will build on the heritage of the ELSA-M program and UK-focused supply chain, resulting in a further positive impact on the UK space economy and its world standing in the global space industry.
The report’s projections affirm Astroscale’s pivotal role in shaping the future of space exploration while addressing ever-growing sustainability concerns related to space debris.
“Astroscale’s Economic Impact Report showcases the vast potential of the UK space industry. Their innovative approach to in-orbit servicing, and commitment to regional development, support the government’s ambitions for the UK space sector. We look forward to seeing the positive impact Astroscale will continue to make in the UK and internationally.” — Ray Fielding, Head of Sustainability at the UK Space Agency
“We are thrilled to share the results of this Economic Impact Report, which demonstrates Astroscale’s commitment to driving sustainable growth in the space industry and the UK economy. By leveraging our ELSA-M program, we aim to foster innovation, create highly-skilled jobs, and ensure a prosperous future for the UK space ecosystem across the full breadth of the country. The report’s insights highlight a remarkable £23 per £1 return on public investment, reflecting our dedication to maximising value for the UK economy while bolstering UK manufacturing capabilities. Additionally, by supporting more than 12,000 high-skilled, high-paid jobs across the UK, Astroscale is making significant strides in developing STEM skills, nurturing expertise for the rapidly growing space sector. Our mission is also focused on driving regional development with 56% of our expenditure located outside the South-East and London, paving the way for onshoring production and further supporting UK exports. Through our ELSA-M program, we are actively attracting foreign direct investment and contributing to the UK’s position as a leading global player in the space economy. Astroscale is proud to play a key role in the UK’s journey to becoming a science superpower.” — Nick Shave, Managing Director of Astroscale UKco
