A new UK space innovation and growth report has revealed a 20-year vision to strengthen the UK’s position in the space market that will increase the country’s global market share to 10% by 2030.

According to the report, applications and services using space data will be an important element for growth with ten times higher return than that of manufacturing. The report also suggested that an industry-government partnership should be set up to exploit the opportunity.

The report also suggests that technology road-mapping from research to market with a ring-fenced budget over and above ESA budgets will aid the growth strategy.

The UK will be successful only when it can develop a secure space infrastructure as an alternative to terrestrial infrastructure, develop an export potential and deliver low-carbon space-based services, including broadcast and broadband services to all parts of the nation.

The report stresses the need to create a national space policy for a focused effort in the sector that is led by a Space Leadership Council that will include members from the UK State for Business Innovation and Skills and the UK Space Trade Association.

If the challenge for a concerted effort is met, the UK space industry will expand to become a £40bn ($62.5bn) sector from the existing value of £6bn ($9.3bn), according to the space IGT report.