State of Play | Pan Galactic

The space industry is proliferating with many new opportunities, below are just several pieces of statistical information demonstrating the size and shape of the industry now and where it is going based on current reports and market intelligence.

17.7% of the UK GDP is specifically reliant upon Space Data

83%

of the current market value of space is specifically related to space data according to Statista.

£7.6bn

would be lost if UK satellite navigation services were down for 7 days

$8.4 Trillion cost of cybercrime.

In 2022 the amount spent on dealing with cybercrime was around $6 trillion, in 2023 this grew to $8.44 trillion and this is expected to grow by another 2.8x in the next three years.

Space industry to be worth $1.8 Trillion by 2034

According to McKinsey & Company in April 2024, the value of the Space industry will grow from $528 billion per year to $1.8 trillion by 2034, for that to happen we will see much growth and there will be a bigger need than ever for more software solutions to support space activities.

£17.5bn in Income

The UK Space industry is worth £17.5 billion per annum income generated to the UK Economy.

5.1% Annual Growth

The UK space sector has maintained a year on Year growth of 5.1% p/a even when the UK economy as a whole was shrinking.

£5.9bn in Exports

The UK Space sector creates £5.9 billion in exports per annum.

The current state of play