According to a report by the House of Commons Science and Technology Committee, the UK space industry is one of the country’s fastest-growing sectors, with an average growth rate of almost 7.5%. Comprising manufacturers of scientific instruments, communications kit and other satellite equipment, it currently employs nearly 29,000 people and contributes £9.1 billion to the UK economy.

“The space sector can be a great success story for the UK economy, with ambitions to increase its annual turn-over to £40 billion by 2030. Given the right support, it will continue to grow and provide more and more high-quality jobs in disciplines where the UK has real strength.”

Andrew Miller MP, chairman of the committee, said: “Our inquiry heard much positive feedback about the work of the UK Space Agency since its creation in 2011. While there is more work to be done, we were pleased to find a sense of momentum within the agency and a real desire to respond to the needs of the space sector.”

The report recommends that the Government should increase the number of Britons holding senior positions within the European Space Agency (ESA) “by extending support and encouragement to suitably qualified UK candidates for future director-level positions”.

The report concludes: “The EU’s role in space is important, both in terms of its sponsorship of major programmes and its potential consumption of satellite applications. However, this role is distinct from that of the ESA. While the ESA is a technical authority, the EU should focus on being an ‘intelligent customer’ of its services. The Government should use its influence within Europe to ensure that this important distinction between the roles of the two organisations remains.”