e Vice-President of the Japan Aerospace Exploration Agency; and Dr Azzedine Oussedik, the Director General of the Algerian Space Agency, Lord Sainsbury said:
"The UK space industry is worth £4.8 billion and has seen an increase in turnover of 8% in the last year alone, so space really matters to the UK from a commercial point of view."
With more than half the UK's annual spend in space activities being invested in ESA programmes, Lord Sainsbury gave two examples of how this involvement has been positive for both the UK and Europe. He
said: "UK participation in ESA's Advanced Research in Telecommunications programme, ARTES, has led to UK companies securing commercial orders to supply satellites to the Paradigm & Inmarsat organisations for their Skynet 5 and Inmarsat-4 series of spacecraft.