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UK Space Agency sizes UK space industry growth

The update includes the following headline points.

It reports that the total UK space industry income grew +5.1% in real terms to £17.5 billion, which is the second fastest annual growth in the last seven years. For wider context, the UK space industry growth (+5.1%) outpaced the growth of the global space industry (+1.6%), and this is while the wider UK economy declined by -7.6%.

The industry directly contributed £7.0 billion to UK economic output in 2020/21 (0.34% of UK GDP), up +1.7% since 2019/20, and a total Gross Value Added effect of £18.3 billion (including supply chain effects).

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