North East businesses to benefit from space sector

North East businesses to benefit from space sector

Businesses in the North East can benefit from the growth of the UK space sector which is expected to reach £40bn by 2030, according to the Satellite Applications Catapult.

Over 50 businesses based in the region got to hear first-hand how they can tap into opportunities within the global space sector, at the Satellite Applications Roadshow event yesterday (24 Feb).

The event, hosted at The Core in Newcastle Science Central, showcased opportunities within the martime, marine and offshore energy sectors where satellite data and technology can be used to create new products and services for the market.

Businesses heard from keynote speakers from the Satellite Applications Catapult, the North East Satellite Applications Centre of Excellence, based at NETPark, Sedgefield, and the Marine Management Organisation.

Stuart Martin, CEO of the Satellite Applications Catapult, said: “It’s been fantastic to see such a broad range of space and satellite applications expertise within the North East, and gives me great confidence that the sector is flourishing here in the region."

It is hoped that the support offered by the Catapult and Centre of Excellence will help to add economic value to the North East industrial base.

John Hildreth, director of the centre, said: “Events like today bring together a wealth of industrial and academic expertise from across the region to help realise new commercial opportunities in a sector that is seeing significant year-on-year growth.”