German investment boost for south west space sector

Industry Minister Sarah Jones announced an investment in the South West leading German space company OHB, creating up to 50 specialist jobs in Bristol to work on satellites and exploration spacecraft. 

In a speech at the Farnborough International Space Show the minister welcomed 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. 

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. The investment was secured by the Department for Business and Trade working with the Space West cluster, Invest Bristol & Bath and the UK Space Agency. 

Industry Minister Sarah Jones said the investment was the latest vote of confidence in the government’s Industrial Strategy, which aims to give the UK space sector the certainty it needs to stay at the cutting edge of global innovation.

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 ministry quoted figures showing the UK’s space workforce is more than twice as productive (2.3x) as the average UK worker. It quoted management consultancy McKinsey as saying that the global space market is expected to be worth over £1 trillion by 2035. 

OHB 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.”

West of England Mayor Dan Norris said news that  OHB SE was setting up shop in the West of England is a big win for the region and a ‘real rocket boost’ for our space industry.  “I’m really proud that they’ve chosen the Bristol & Bath Science Park as their UK base,” he said. “We’re 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 which represents more than 500 businesses operating in space, said the UK space sector is a ‘jewel in the UK’s advanced manufacturing crown’ that has seen impressive growth in recent years. “The space economy in the UK spans a wide range of capabilities employing around 50,000 people,” he said, “with strengths in small satellite technology, sustainability, and emerging areas such as in-space manufacturing, artificial intelligence, and quantum computing.