Space-tech patents provide economic thrust

This is one of the findings from IP services company Marks & Clerk, which has found a 12-fold increase in published patents from 295 in 1969 to a projected figure of around 3,500 in 2019.

The UK government considers space technology to be a key part of its strategy for boosting economic growth, and it’s estimated that the global space economy market will grow to £400bn by 2030.

In a speech delivered on July 16, 2019, science minister Chris Skidmore, said that Britain’s space industry has tripled in size since 2000, becoming one of the fastest growing sectors in the UK economy.

“It employs close to 42,000 people throughout the UK, has an income of almost £15bn, and, through the use of our satellite services, supports an estimated further £300bn of economic activity,” he said.

For its part, Marks & Clerk has found marked worldwide growth from 1,813 published patents in 2014 to 3,067 in 2018, a rise of 69 per cent.