Reuters - Video

EDITION: U.S. | U.K. | IN

Technology

UK seeks place in space race

Tuesday, July 15, 2014 - 01:55

The UK government's unveiled ambitious plans to build a spaceport in Britain by 2018, although it hasn't yet been decided where. Several sites are being looked at, including some in Scotland, which is due to hold a referendum on independence in September. Joanna Partridge reports

▲ Hide Transcript

View Transcript

Stepping up the pace of the commercial space race. The UK government believes a British spaceport would have firms lining up to use it for commercial spaceflights, satellite launches or delivery of cargo to space. So it wants to build a spaceport in the next four years. That's even though no firm has yet proven its spaceplane can carry passengers. David Parker, CEO of the UK Space Agency, was at the announcement at the Farnborough Airshow. SOUNDBITE: Dr David Parker, Chief Executive, UK Space Agency, saying (English): "We have a success story in space already in the UK, it's growing. New growth figures show it's £11.3 billion to the UK economy now. We have new opportunities we want to seize and one of those is in space tourism." The government is looking at eight possible sites for the spaceport. The idea to build it somewhere remote - with an existing runway which is long enough, or could be extended to the length required for spaceplanes. Six of those sites are in Scotland. But it's holding an independence referendum in September, which could affect the choice of location if Scotland decided to leave the union. Several companies are designing spaceplanes which can carry passengers. Airbus and Safran the latest to announce a space launcher joint venture in June - to compete with rivals such as Elon Musk's U.S.-based SpaceX. The British government would like 10% of the global space market by 2030 - which it estimates will be worth around £40 billion a year. Vince Cable is Business Secretary. SOUNDBITE: Vince Cable, British Business Secretary, saying (English): "We have companies in the UK manufacturing, designing, doing the IT work around small satellites and we've grown to the extent to which outside the United States, Britain is probably the leading country and we want to now consolidate that." The U.S. has already constructed the world's first space base purpose-built for commercial launches. This is Spaceport America in New Mexico. The inaugural flights with Richard Branson's Virgin Galactic have been scheduled to take off from there this year.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

UK seeks place in space race

Tuesday, July 15, 2014 - 01:55

Top News »

Investing 201 »

Arian Foster = BlackBerry? Arian Foster = BlackBerry?

Fri, Oct 25, 2013 - (3:16)

Don’t miss these red flags for IPOs Don’t miss these red flags for IPOs

Thu, Oct 10, 2013 - (2:34)

Copycat currency trading Copycat currency trading

Wed, Oct 02, 2013 - (2:28)

When to dump a winner When to dump a winner

Tue, Sep 24, 2013 - (1:55)

Where gold might again attract Jim Rogers Where gold might again attract Jim Rogers

Thu, Sep 19, 2013 - (2:05)

Why savings interest rates won't budge Why savings interest rates won't budge

Fri, Sep 13, 2013 - (2:09)

Buy local? ETFs try the trend Buy local? ETFs try the trend

Thu, Sep 05, 2013 - (2:42)

The better bond funds The better bond funds

Wed, Aug 07, 2013 - (2:40)

Best bargain in 40 years? European stocks Best bargain in 40 years? European stocks

Thu, Aug 01, 2013 - (2:24)

Invest like an activist Invest like an activist

Fri, Jul 26, 2013 - (2:49)

Money Clip »

3 things to do before disaster strikes 3 things to do before disaster strikes

Wed, Sep 18, 2013 - (1:39)

Your must-do money list Your must-do money list

Wed, Sep 11, 2013 - (1:24)

The worst "best" financial advice The worst "best" financial advice

Wed, Sep 04, 2013 - (1:42)

Forget gold: The case for REITs Forget gold: The case for REITs

Fri, Apr 26, 2013 - (1:19)

3 rules for buying a house now 3 rules for buying a house now

Thu, Apr 18, 2013 - (1:39)

“Stalking” your dream home - Money Clip “Stalking” your dream home - Money Clip

Wed, Mar 27, 2013 - (2:50)

3 hidden tax deductions - Money Clip 3 hidden tax deductions - Money Clip

Thu, Mar 21, 2013 - (1:33)

Moving Pictures »

Still missing – MH370 Still missing – MH370

Fri, Sep 05, 2014 - (2:05)

Images of August Images of August

Fri, Aug 29, 2014 - (1:00)

Burning Together Burning Together

Mon, Sep 01, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, Aug 22, 2014 - (3:12)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, Aug 11, 2014 - (2:27)

Burned memories Burned memories

Fri, Aug 08, 2014 - (3:02)

Images of July Images of July

Thu, Jul 31, 2014 - (1:20)

World Cup: passion on the pitch World Cup: passion on the pitch

Fri, Jul 11, 2014 - (1:00)

A refugee in America gives back A refugee in America gives back

Thu, Jul 03, 2014 - (3:25)

A long search for refuge A long search for refuge

Fri, Jun 20, 2014 - (3:04)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, Feb 19, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, Jan 10, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, Aug 29, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, Aug 29, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, Aug 05, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, Dec 17, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sat, Dec 08, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Sun, Dec 09, 2012 - (10:39)