As per a report by a government "Space Innovation and Growth Team" Britain's space industry can expand six fold into a £40bn a year business and create 100,000 new jobs by 2030 as a 20-year strategy.

"Today, we have a clearly defined opportunity to grow the UK's share of the global space market to create a world leading £40bn UK space industry by 2030. I have not taken the safe route with this report," said Andy Green, chief executive of the leading IT Company Logica and chairman of Space IGT.

The report laid emphasis on collective effort & massive spending by the government and industry. Demand for space technology is booming with the worldwide market predicted to grow from £160 billion in 2008 to £400 billion by
2030.