The leading German space company
OHB will be making a multi-million-pound investment in the South West of England, creating up to 50 specialist jobs in Bristol for work on satellites and space exploration spacecraft. Industry Minister Sarah Jones announced the investment in a speech at the recent
Farnborough International Space Show held last month.
OHB’s initial investment will create a new UK subsidiary based at the Bristol and Bath Science Park, where ‘cutting-edge technology’ for satellites and spacecraft. The investment was secured by the Department for Business and Trade working together with the
Space West cluster,
Invest Bristol and Bath, and the
UK Space Agency.
Industry Minister Sarah Jones said: “The UK is open for business, and this investment from OHB is a major win for Bristol’s world-leading aerospace and tech industry. It will not only create high-skilled local jobs and ensure the UK remains a partner of choice for space agencies around the world but also give our space sector the certainty it needs to stay at the cutting edge of global innovation, driving growth and good jobs throughout the UK.
“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; and according to the latest figures from the management consultancy McKinsey, the global space market is expected to be worth over £1 trillion by 2035.
OHB’s CEO Marco Fuchs said: “I am truly glad that we have finally established a presence in one of Europe’s key space markets. The Bristol region, with its high-tech cluster, provides a great environment for OHB to develop innovative and competitive space products and systems from the UK for the national and European markets.”
Dan Norris, the West of England Mayor, added: “This announcement means more high skilled jobs for local people. OHB setting up shop in the West of England is a big win for our region and a real ‘rocket boost’ for our space industry. I am proud that they have chosen the Bristol and Bath Science Park as their UK base. We are proving once again that this is the place to be for world-class innovation, job creation, and serious economic growth.”