Professor Brian Cox advocated for increased UK investment in the European Space Agency during a House of Lords committee meeting. He emphasized the space industry's potential to dominate the global economy, projecting significant growth from $630 billion in 2023 to $1.8 trillion by 2035. While the UK has successfully collaborated with NASA previously, Cox warned that relying on the US as a primary partner is risky due to unstable funding and political uncertainties. He concluded that the UK must proactively position itself in this crucial sector to harness upcoming opportunities.
The US is a very valuable but difficult partner to base a strategy on, because the funding is unstable, which could lead to unstable partnerships.
Cox stressed that the space industry, currently valued at around $630 billion, is expected to grow significantly, potentially tripling to $1.8 trillion by 2035.
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