£10 Million Boost For SaxaVord Spaceport
The UK government has announced a significant investment in the country's space ambitions, allocating £10 million to SaxaVord Spaceport in the Shetland Islands. This crucial funding injection comes as SaxaVord holds the distinction of being the UK's first licensed vertical spaceport, paving the way for a historic first orbital launch later this year.
The announcement, made during the recent Spring Budget, highlights the government's commitment to establishing the UK as a leader in the European small satellite launch market. "This investment is a major step forward for the UK space industry," said John Lamont, UK Government Minister for Scotland. "SaxaVord, along with other spaceports across the country, will be at the heart of our success story, creating new jobs and inspiring the next generation of space professionals."
SaxaVord Spaceport, already boasting private investment of around £40 million, will utilize the £10 million to accelerate its capital works program. This ensures the spaceport is fully equipped to support the upcoming orbital launch.
Chief executive Frank Strang thanked government ministers and the UK Space Agency “for their confidence in SaxaVord”.
“Their support today for both the new space economy and ourselves at SaxaVord will help ensure that the UK leads the way in European spaceflight,” he said.
“The global space industry is valued at $530bn annually and rocket company Rocket Factory Augsburg’s launch at SaxaVord this summer will put the UK at the forefront of what is one of the world’s fastest growing sectors – bringing jobs, investment and opportunity.”
The upcoming launch, expected to take place sometime in 2024, will be a landmark achievement for the UK space industry. It signifies the culmination of years of planning, collaboration, and investment. This first orbital launch will not only put the UK on the map as a launch provider but also open doors for future scientific and commercial missions.
The SaxaVord investment, coupled with the recent news of the UK's first licensed spaceport, paints a bright picture for the future of the country's space endeavors. With continued government support and private sector innovation, the UK is poised to become a major player in the global space race, reaching for the stars and beyond.
