THE BUSINESS OF INTERNATIONAL TRADE
Another step towards space exploration from UK soil has been unlocked, with the passing of the spaceflight regulations, Transport Secretary Grant Shapps announced on July 29.
The legislation provides the framework to regulate the UK space industry and enable launches to take place from British soil for the first time. It will unlock a potential £4bn of market opportunities over the next decade, creating thousands of jobs and benefiting communities right across the UK.
This also puts the UK in a unique position as the first country in Europe able to launch spacecraft and satellites from home soil, which could lead to better monitoring of climate change, as well as improved data for satellite navigation systems, improving journeys right here on the ground too.
This announcement comes alongside the formal appointment of the Civil Aviation Authority (CAA) as the industry regulator. With nearly 50 years of aviation regulation experience, the CAA has a wealth of experience and a proven track record in overseeing the aviation sector in the UK, which is one of the safest in the world, as well as experience in regulating rocket activities under the Air Navigation Order 2016.
New and emerging space activity will also start to be seen in time - including sub-orbital space tourism and eventually new transport systems such as hypersonic flight.
Not only will this support the thriving space sector, it will also attract companies from around the globe to come to, and benefit from, these commercial opportunities.
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