British Business Secretary Greg Clark said Thursday Britain was poised to compete for the launch of an estimated 2,000 satellites by 2030.
Clark expanded on the commercial opportunities to be gained by Britain's increasing role in the space sector during his first visit to the site of a future UK spaceport in the Sutherland region of Scotland.
The UK Space Agency said Thursday the commercial vertical and horizontal satellite launch demand is worth a potential 5 billion US dollars to the British economy over the next decade.
Clark said that because of Britain's location, planned regulatory framework, private sector strategy and space ecosystem, it has a competitive advantage to compete for a substantial share of a market for launching an estimated 2,000 small satellites by 2030.
During the visit, Clark viewed plans for the spaceport site and held discussions with local people and businesses to hear their thoughts.
Low cost access to space is important for the UK's thriving space sector which builds more small satellites than any other country, with Glasgow building more than any other city in Europe, he said.
The 23 million US dollars Sutherland spaceport is being developed by Highlands and Islands Enterprise (HIE), reports Xinhua.
Roy Kirk, project director for the Sutherland Spaceport development said: "The international space sector is set to grow very significantly in the coming years."
