{"id":8121,"date":"2023-10-10T22:39:13","date_gmt":"2023-10-10T14:39:13","guid":{"rendered":"https:\/\/wp-productionenv-bjg9h2g2bgg5b8aa.southeastasia-01.azurewebsites.net\/news\/astroscales-economic-impact-report-reveals-pioneering-contributions-to-uk-space-industry\/"},"modified":"2023-10-10T22:39:13","modified_gmt":"2023-10-10T14:39:13","slug":"astroscales-economic-impact-report-reveals-pioneering-contributions-to-uk-space-industry","status":"publish","type":"post","link":"https:\/\/starpath.global\/news\/astroscales-economic-impact-report-reveals-pioneering-contributions-to-uk-space-industry\/","title":{"rendered":"Astroscale&#8217;s Economic Impact Report Reveals Pioneering Contributions to UK Space Industry"},"content":{"rendered":"<p style=\"text-align: center;\" itemprop=\"image\" itemscope=\"\" itemtype=\"https:\/\/schema.org\/ImageObject\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.satnow.com\/news\/astro_C_638325125509291686.jpg\" width=\"712\" height=\"377\" alt=\"Astroscale's Economic Impact Report Reveals Pioneering Contributions to UK Space Industry\" class=\"imageload removeImageattr\" data-original=\"https:\/\/cdn.satnow.com\/news\/astro_C_638325125509291686.jpg\" style=\"\"><meta itemprop=\"url\" content=\"https:\/\/cdn.satnow.com\/news\/astro_C_638325125509291686.jpg\"><meta itemprop=\"width\" content=\"712\"><meta itemprop=\"height\" content=\"377\"><\/p>\n<p>Astroscale UK, a fast-growing company dedicated to securing the sustainable development of space, announces groundbreaking insights from an Economic Impact Report focusing on economic growth, job creation, and regional development.<\/p>\n<p>The report underscores Astroscale\u2019s pivotal role in enabling growth in the UK\u2019s space economy and aligns with the UK Government\u2019s National Space Strategy (NSS) to propel the nation towards becoming one of the most innovative and attractive space economies in the world<\/p>\n<p>This announcement follows the anniversary of the official opening of Astroscale\u2019s dedicated UK facility at the Harwell Science &amp; Innovation Campus, Oxfordshire, which includes state-of-the-art satellite integration cleanrooms, mission operations facilities, and offices for 180 staff. The new Astroscale UK premises were officially opened by Paul Bate, Chief Executive of the UK Space Agency, on 27 September 2022.<\/p>\n<p>The independent study focuses on Astroscale\u2019s \u201cEnd-of-Life\u201d service, ELSA-M, which will enable LEO constellation operators to act responsibly in space, demonstrating its significant contribution to the UK space ecosystem. The report underscores Astroscale\u2019s pivotal role in enabling growth in the UK\u2019s space economy, how it will help position the nation as a science superpower and reveals four fundamental aspects of Astroscale\u2019s ambitious ELSA-M program:&nbsp;<\/p>\n<ul>\n<li><strong>Empowering Economic Growth<\/strong>: Delivering an unprecedented \u00a323 per \u00a31 return on public investment, showcasing Astroscale\u2019s ability to maximize value for the UK economy.&nbsp;<\/li>\n<li><strong>Fuelling Job Creation and Innovation<\/strong>: Supporting over 12,000 high-skilled, high-paid jobs across the UK, fostering innovation and expertise in the rapidly growing space industry.&nbsp;<\/li>\n<li><strong>Driving Regional Development<\/strong>: Locating an impressive 56% of expenditure outside the South East and London, boosting investment opportunities across the whole of the UK.&nbsp;<\/li>\n<li><strong>Generating Sales for the UK Space Industry<\/strong>: The ELSA-M program is projected to contribute \u00a32bn in revenue for the UK space industry over the next 10 years, accelerating economic growth and prosperity.&nbsp;<\/li>\n<\/ul>\n<p>\u201cAstroscale\u2019s Economic Impact Report showcases the vast potential of the UK space industry\u201d, said <strong>Ray Fielding, Head of Sustainability at the&nbsp;<\/strong><strong>UK Space Agency<\/strong>. \u201cTheir innovative approach to in-orbit servicing, and commitment to regional development, support the government\u2019s ambitions for the UK space sector. We look forward to seeing the positive impact Astroscale will continue to make in the UK and internationally.\u201d&nbsp;<\/p>\n<p><strong>Nick Shave, Managing Director of Astroscale UK, commented<\/strong>, \u201cWe are thrilled to share the results of this Economic Impact Report, which demonstrates Astroscale\u2019s commitment to driving sustainable growth in the space industry and the UK economy.&nbsp;<\/p>\n<p>\u201cBy leveraging our ELSA-M program, we aim to foster innovation, create highly-skilled jobs, and ensure a prosperous future for the UK space ecosystem across the full breadth of the country. The report\u2019s insights highlight a remarkable \u00a323 per \u00a31 return on public investment, reflecting our dedication to maximizing value for the UK economy while bolstering UK manufacturing capabilities. &nbsp;<\/p>\n<p>\u201cAdditionally, by supporting over 12,000 high-skilled, high-paid jobs across the UK, Astroscale is making significant strides in developing STEM skills, nurturing expertise for the rapidly growing space sector. Our mission is also focused on driving regional development with 56% of our expenditure located outside the South-East and London, paving the way for onshoring production and further supporting UK exports. &nbsp;<\/p>\n<p>\u201cThrough our ELSA-M program, which is projected to generate \u00a32bn in sales for the UK space industry, we are actively attracting foreign direct investment and contributing to the UK\u2019s position as a leading global player in the space economy. Astroscale is proud to play a key role in the UK\u2019s journey to becoming a science superpower.\u201d&nbsp;<\/p>\n<p>ELSA-M is paving the way for Astroscale\u2019s UK Active Debris Removal (ADR) mission, COSMIC (Cleaning Outer Space Mission through Innovative Capture). Targeting two inactive British satellites, COSMIC will build on the heritage of the ELSA-M program and UK-focused supply chain, resulting in a further positive impact on the UK space economy and its world standing in the global space industry. &nbsp;<\/p>\n<p>The report\u2019s projections affirm Astroscale\u2019s pivotal role in shaping the future of space exploration while addressing ever-growing sustainability concerns related to space debris.&nbsp;<\/p>\n<p style=\"text-align: center;\"><strong><span class=\"fr-video fr-deletable fr-fvc fr-dvb fr-draggable\" contenteditable=\"false\" draggable=\"true\"><iframe loading=\"lazy\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/y1v-eF26mCc?&amp;wmode=opaque\" frameborder=\"0\" allowfullscreen=\"\" class=\"fr-draggable\"><\/iframe><\/span><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Astroscale UK, a fast-growing company dedicated to securing the sustainable development of space, announces groundbreaking insights from an Economic Impact Report focusing on economic growth, job creation, and regional development. The report underscores Astroscale\u2019s pivotal role in enabling growth in the UK\u2019s space economy and aligns with the UK Government\u2019s National Space Strategy (NSS) to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":"","_links_to":"","_links_to_target":""},"categories":[2],"tags":[26,38,20],"class_list":["post-8121","post","type-post","status-publish","format-standard","hentry","category-news","tag-ground","tag-leo","tag-satellite"],"acf":[],"_links":{"self":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/8121"}],"collection":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/comments?post=8121"}],"version-history":[{"count":0,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/posts\/8121\/revisions"}],"wp:attachment":[{"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/media?parent=8121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/categories?post=8121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/starpath.global\/blog\/wp-json\/wp\/v2\/tags?post=8121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}