Government launches £10 million scheme to incentivise the commercial spaceflight market.
Grants worth £10 million are being made available to help develop commercial launch capability for spaceflight, Science Minister Jo Johnson announced today. The funding comes as the government announced the timeline for new legislation which will facilitate and regulate commercial spaceflight.
The government’s ambitions for the UK to hold a greater share of the commercial spaceflight market, worth an estimated £25 billion over the next 20 years, took a step forward with a call for businesses to develop competitive, commercial and safe spaceflight proposals for UK-based satellite launch services and sub-orbital flights.
Organisations expected to bid for a share of the funding are likely to be joint enterprises of launch vehicle operators and potential launch sites. The funding must be used to develop spaceflight capabilities, such as building spaceport infrastructure or adapting launch vehicle technology for use in the UK. The aim is to establish a commercial spaceflight market to capture a share of the emerging global market from 2020.