Described in a press release as both “recession-busting” and “bureaucracy-busting”, the new agency will takeover from the British National Space Centre (BNSC).
It will also incorporate six government departments, two councils, the Technology Strategy Board and the Met Office, all of which currently make up the UK’s space efforts.
Science and Innovation Minister Lord Drayson said in a statement: “The new space agency is about making sure that the UK fully exploits its competitive advantage in satellites, robotics and related technologies,“ he added.
The UK space sector has grown three times faster than the overall economy since 1999, racking up a nine per cent increase, and adding £6.5 billion a year to the economy. Some 65,000 people currently work in the sector.
“Our space sector hasn't missed a beat during this recession. This is the classic story of outstanding UK science and entrepreneurship continuing to create jobs and achieve exceptional growth,” he added.
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