Space Industry Debate
Full Debate: Read Full DebateJim Shannon
Main Page: Jim Shannon (Democratic Unionist Party - Strangford)Department Debates - View all Jim Shannon's debates with the Department for Science, Innovation & Technology
(4 months ago)
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I beg to move,
That this House has considered the UK space industry.
It is a pleasure to serve under your chairmanship, Mrs Murray, and a delight for me to talk about this extraordinarily thriving industry right here in the UK.
As chair of the all-party parliamentary group for space, I get the opportunity to see at first hand what is happening in the UK. The group has recently put on four exhibitions, taking over the Attlee Suite here in Parliament to highlight various aspects of our thriving space industry. We started last year with launch and propulsion, followed by current applications that use space, and we have finished with two sessions on the future of space and the important issue of space sustainability. The exhibitions were well attended by parliamentarians, civil servants and industry experts, and over the four events, more than 40 space companies had the chance to highlight their skills and products to attendees. The exhibitions were supported by ADS and UKspace, and my thanks go to the teams that helped both with those events and in supporting the all-party parliamentary group.
Such drop-by exhibitions serve to highlight that the UK space industry is thriving, active and innovative. Indeed, it is the leader in smart thinking for the sustainability of space and how we will preserve it for future generations. Smart thinking on things such as ESG —environmental, social and governance—kitemarking for UK-licensed space flights, and the wider discussions of space sustainability bonds mean that the UK is a thought leader that will ensure that the ultimate infinity of space is not lost to us because of an impenetrable cloud of space debris orbiting the earth.
At this point, I should declare that my fascination with the sector goes so far that I take an interest in specific companies and organisations, and I refer hon. Members to my entry in the Register of Members’ Financial Interests. I will, of course, avoid speaking about those interests that are financial this afternoon, for important reasons.
I commend the hon. Gentleman for introducing the debate. I spoke to him beforehand and I am keen to ensure that whenever this process moves forward on the engineering side, we in Northern Ireland can benefit. Does he agree that, with engineering the largest subsector in Northern Ireland and especially in the field of aerospace, skill and capacity levels are high and therefore ripe for further investment? Does he further agree that Northern Ireland and the United Kingdom must be globally promoted as being shovel ready or, to use the terminology, rocket ready for greater investment?
The hon. Gentleman is absolutely right and I will mention Belfast later. Queen’s University Belfast has recently hosted some incredibly important energy-beaming experiments, which will completely open up the possibility for the UK to be world leaders in space-based solar power. I will talk a little more about that later.
My interest in space also derives from my unachieved desire to be an aeronautical engineer. My career in the City of London and an interest in economics have given me the insight to recognise that the space industry is the epitome of what Adam Smith talked about in his 1776 book “The Wealth of Nations”. The space industry epitomises a mature economy’s desire to seek ever more productive activities and the UK is doing particularly well in that area.
The UK space sector as a whole has a turnover of some £17.5 billion per annum, employing nearly 50,000 people, 2,300 of whom are apprentices.