Lockheed Martin UK has recently emphasized the vital role of space in national security and economic growth, urging more involvement from the financial sector to help achieve the UK’s space objectives. At the first UK Space Power Conference, Chris Spicer, Regional Director UK and Europe for Lockheed Martin Space, highlighted the necessity of recognizing space as an essential industry rather than a niche market.
Lockheed Martin has operated in the UK for over 85 years and employs around 2,000 people. The company contributes about £2 billion in orders to over 800 UK businesses annually, including more than 500 SMEs, sustaining approximately 24,000 jobs nationwide.
Spicer addressed the need for increased regional investment, particularly in the North East, where MOD spending is significantly lower compared to other regions. He noted that building a robust space sector requires sustained investment and collaboration, appealing for active support from the City of London to attract capital for growth.
The discussion echoed themes from the Government’s new UK Space Strategy, which includes a £7.8 billion investment through to 2030, aiming to enhance capabilities in space control, intelligence, and secure communications.
Lockheed Martin UK expressed its support for the strategy, with Chief Executive Paul Livingston highlighting the importance of investing in resilient space capabilities to protect national interests. He stated the company is already investing substantial resources in the North East and collaborating with partners to tackle these challenges.
As the space sector continues to expand, Lockheed Martin remains dedicated to working alongside government, industry, and academia to enhance sovereign capabilities and foster economic growth.
For more information, visit Lockheed Martin.
Media Contact:
Jackie Lucas
+44 (0) 7385 005135
jacqueline.a.lucas@global.lmco.com
