Minister Jones has announced a multimillion-pound investment in Bristol's space sector from leading German space company OHB
The South West will benefit from a multimillion-pound investment from leading German space company OHB, creating up to 50 specialist jobs in Bristol working on satellites and exploration spacecraft, and supporting the government’s Plan for Change in delivering more skilled jobs, higher living standards, and productivity growth in every part of the United Kingdom.
Industry Minister Sarah Jones will announce the investment in a speech to the Farnborough International Space Show today [19 March], welcoming the news as a major win for the South West’s world-leading aerospace cluster, and the latest vote of confidence in the UK’s investment environment.
The Farnborough International Space Show, supported by ADS – the trade association for the UK’s aerospace, defence, security and space sectors – will be a significant event for the space industry, with 50 different countries exhibiting and many high-value commercial deals expected to be signed.
OHB’s initial multimillion-pound investment will create a new UK subsidiary based at Bristol and Bath Science Park to develop cutting-edge tech for satellites and spacecraft, and was secured by the Department for Business and Trade working together with the Space West cluster, Invest Bristol & Bath and the UK Space Agency.
Industry Minister Sarah Jones is expected to say:
The British space sector generates £18.9 billion each year, supporting over 50,000 jobs, and will be a top priority in the Government’s Industrial Strategy, which has identified advanced manufacturing and digital & technologies as key growth-driving sectors.
The UK’s space workforce is also highly qualified and more than twice as productive (2.3x) as the average UK worker, while the global space market is expected to be worth over £1 trillion by 2035, according to the latest figures from global management consultancy McKinsey.
OHB CEO Marco Fuchs said:
West of England Mayor Dan Norris said:
Kevin Craven, CEO of ADS welcomed the announcement:
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