The UK government is investing £30 million into the SaxaVord spaceport in Shetland to support the first vertical rocket launches from continental Europe and boost domestic space capabilities.

Key Points

• The government is providing £30 million in funding to SaxaVord, matched by an additional £30 million from private investors.
• SaxaVord, located on the island of Unst, holds regulatory approval to conduct up to 30 orbital launches annually.
• A broader £148 million government pledge will support the development of domestic rocket technology and space infrastructure.
• The national space strategy allocates £7.8 billion across government departments through 2030 to foster industry growth.
• UK space companies generated nearly £19 billion in annual revenue during the 2021-22 period.

Why it Matters

This investment aims to establish the UK as a primary hub for European orbital launches while securing sovereign access to space technology. By supporting local infrastructure and private firms, the government hopes to stabilize a sector that has recently faced significant commercial setbacks and operational delays.