"Over the next two decades, this global industry is set to double in size to over £400bn in value," Ian Sample Science Correspondent."For the first time, we will have a body with a firm grip on the future," said the science minister, Lord Drayson. "Britain's space industry has defied the recession. It can grow to £40bn a year and create 100,000 jobs in 20 years. The government's commitments on space will help the sector go from strength to strength."
The British space industry contributes £6.5bn to the economy annually and is growing at 9% a year. The continued success of the industry, which focuses on building satellites and associated electrical equipment, has marked it out as one sector that could help Britain recover from the financial crisis.
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