Multimillion-pound investment gives rocket boost to South West space sector
Minister Jones has announced a multimillion-pound investment in Bristol's space sector from leading German space company OHB.
- New multimillion-pound investment from leading German space company OHB to support Plan for Change by creating specialist jobs in Bristol.
- OHB鈥檚 UK expansion sees job-boosting new subsidiary at Bristol & Bath Science Park to develop cutting-edge satellite and spacecraft tech.
- Industry Minister Sarah Jones announces investment in keynote speech at opening of Farnborough International Space Show.听
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鈥檚 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聽Farnborough International Space Show today [19 March], welcoming the news as a major win for the South West鈥檚 world-leading aerospace cluster, and the latest vote of confidence in the UK鈥檚 investment environment.听
The Farnborough International Space Show, supported by ADS 鈥� the trade association for the UK鈥檚 aerospace, defence, security and space sectors 鈥� will be a significant event for the space industry, with 50 different countries exhibiting and many high-value commercial deals expected to be signed.听
OHB鈥檚 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,聽Invest Bristol & Bath and the UK Space Agency.听
Industry Minister Sarah Jones is expected to say:
The UK is open for business, and today鈥檚 investment from OHB is a major win for Bristol鈥檚 world-leading aerospace and tech industry which will create high-skilled local jobs and ensure the UK remains a partner of choice for space agencies around the world.听
This is the latest vote of confidence in our Industrial Strategy, which will give our space sector the certainty it needs to stay at the cutting edge of global innovation, driving growth and good jobs across the UK and showing our Plan for Change is working.
The British space sector generates 拢18.9 billion each year, supporting over 50,000 jobs, and will be a top priority in the Government鈥檚 Industrial Strategy, which has identified advanced manufacturing and digital & technologies as key growth-driving sectors.听
The UK鈥檚 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 拢1 trillion by 2035, according to the latest figures from global management consultancy McKinsey.听
OHB CEO Marco Fuchs said:
I am truly glad that we have finally established a presence in one of Europe鈥檚 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.
West of England Mayor Dan Norris said:
Today鈥檚 announcement means more high skilled jobs for local people 鈥� and that鈥檚 fantastic news. OHB SE setting up shop in the West of England is a big win for our region and a real rocket boost for our space industry.听聽
I鈥檓 really proud that they鈥檝e chosen the Bristol & Bath Science Park as their UK base. We鈥檙e proving once again that this is the place to be for world-class innovation, job creation, and serious economic growth.
Kevin Craven, CEO of ADS welcomed the announcement:
The UK space sector 鈥� a jewel in the UK鈥檚 advanced manufacturing crown - has seen impressive growth in recent years. The space economy in the UK spans a wide range of capabilities employing around 50,000 people, with strengths in small satellite technology, sustainability, and emerging areas such as in-space manufacturing, artificial intelligence, and quantum computing.听
Representing more than 500 businesses operating in space, ADS wholeheartedly welcomes the ongoing commitment to developing our sector throughout the country. Space will secure the UK鈥檚 domestic, future and technological advantage!
叠补肠办驳谤辞耻苍诲:听
- For further details on OHB and their UK investment, please contact the company directly at [email protected].听
- See McKinsey鈥檚 full research report on the projected value of the global space economy here: .