British companies developing satellite communications technology are set to receive a share of £30m of government funding from the UK Space Agency.
Announced on Wednesday by Space Minister Liz Lloyd, the move from the government agency comes as the UK looks to secure a lucrative share of the £40bn global satellite market.
The new investment marks the second round of funding from the UK Space Agency’s Connectivity in Low Earth Orbit (C-LEO) programme, launched to help UK firms to develop the components and technologies needed for satellite constellations.
“Space is now the cornerstone of our modern economy. Satellite constellations have revolutionised how we operate, digitalising industries, optimising logistics and connecting all corners of the globe,” said Lloyd.
“This new funding will support the development of smarter satellites with better hardware, the use of AI to make data delivery faster and improved connections between spacecraft.
“This is part of the government’s commitment to keeping UK companies at the forefront of satellite communications, delivering economic growth and strengthening our defence and national security.”
The funding will help companies move from the testing phase to being ready to deploy their satellite technology in real missions.
“UK companies are developing world-class satellite communications technologies, from advanced antennas to optical links that can transmit data between satellites at the speed of light,” said UK Space Agency chief executive Dr Paul Bate.
“Our first C-LEO funding round is delivering real results, and this second call will help even more businesses take their innovations from prototype to product, ready to be integrated into the constellations of tomorrow.”
Firms have been invited by the agency to apply for a share of the funding.