London Stock Market Pressured to Invest in British Space Industry
Article by Aleksandra Serebriakova March 13, 2021 (sputniknews.com)
• Last November, UK Prime Minister Boris Johnson promised a $22 billion investment into British defense with an aim to create Britain’s own ‘Space Force’ space command. Johnson hopes to send British spaceships into space as early as 2022, as his government is boosting millions of dollars into the defense sector.
• Britain has been one of the global champions when it comes to operating civil and military satellites, but has yet to launch its first rocket from UK soil. “Space is the key to the world’s future,” said Will Whitehorn, chairman of UKSpace trade association. “We need to wake up and smell the coffee!”
• UKSpace is calling on British businesses to take a more active part in launching a “new industrial revolution” and turning Britain into a space superpower by investing big bucks into the industry. Whitehorn compared how Wall Street space firms were raising “billions” for American space initiatives, but nothing like that has happened in the UK. “I believe a new investment trust to invest in brilliant space companies is needed on the London Stock Market,” said Whitehorn.
• Meanwhile, the ‘UK Space Agency’ – Britain’s civil space authority (like NASA) – announced in October 2020 that America’s aerospace giant Lockheed Martin will develop UK launch operations from Shetland Islands, Scotland. And Scottish firm Orbex plans to launch its innovative Prime rocket from the Sutherland, Scotland spaceport in 2022.
• Virgin Orbit also plans to release a group of satellites from Spaceport Cornwall in southwestern England for the first time in spring 2020. The spaceport supports so-called “horizontal” launches, where modified aircraft such as the Boeing 747 will carry a rocket under its wings to send small satellites into orbit.
• The UK Space Agency’s plan is to control 10% of the world’s space economy by the end of this decade.
Last November, UK Prime Minister Boris Johnson promised a $22 billion investment
into British defence with an aim to create Britain’s own Trump-like ‘Space Force’. The country is planning to send its first rocket into space from British soil next year.
The trade association UKSpace is calling on British businesses to take a more active part in launching a “new industrial revolution” and turning Britain into a space superpower by investing big bucks into the industry.
“I believe a new investment trust to invest in brilliant space companies is needed on the London Stock Market,” Will Whitehorn, the president of UKSpace, told Express.co.uk.
Whitehorn has compared how Wall Street Space firms were raising “billions” for American space
initiatives, but “nothing” like that has happened in the UK, he says, signalling that this had to change, albeit with the government’s support.
“Space is the key to the world’s future, key to battling climate change and could be a key to our future prosperity,” the trade association’s chairman went on. “We need to wake up and smell the coffee!”
Britain has been one of the global champions when it comes to operating civil and military satellites but has yet to launch its first rocket from UK soil.
PM Boris Johnson hopes that this could happen as early as 2022, as his government is boosting millions of dollars into the defence sector. He announced in November 2020 that the UK will create a new Space Command in a similar fashion to former US President Donald Trump with his much-debated US Space Force.
The prime minister expects that the first rocket will go into orbit from Scotland, as two large space ports are currently underway in the country: Space Hub Sutherland and Shetland Space Centre.
FAIR USE NOTICE: This page contains copyrighted material the use of which has not been specifically authorized by the copyright owner. ExoNews.org distributes this material for the purpose of news reporting, educational research, comment and criticism, constituting Fair Use under 17 U.S.C § 107. Please contact the Editor at ExoNews with any copyright issue.