Why Scotland must not miss out on this race for space, the 'next industrial revolution'

That is the message from leading Scottish space sector investors, experts and entrepreneurs.

Scotland already builds more satellites than any other country in Europe, is home to multiple space ports and launch operators and is backed with support services in data analysis, academia, engineering, robotics and AI.

And as Scotland’s space industry breaks out of its niche, so too have the economics of space with Elon Musk’s stratospheric rise to the top of the US government.

Musk, the world’s richest man, is not only the proprietor X and the CEO at electric vehicle giantTesla, but also owner and chief engineer of SpaceX, the world’s dominant space launch provider.

His Starlink network of 7,000 satellites provides global mobile broadband, has defence applications and has given him unprecedented geopolitical leverage. In October, SpaceX launched and - crucially and dramatically - caught the 20-storey booster rocket in a milestone moment for reusable space technology.

The economics of space and the geopolitics of satellite development - both home and abroad - have never been more pertinent.

Will Whitehorn, chairman of Seraphim Space Investment Trust, the world’s first listed spacetech fund, has dubbed this period as the “next industrial revolution”.

Speaking at the People-Innovation-Place summit in Edinburgh, Whitehorn said: “I think that where we are at the moment is the satellite revolution. The next part is building space infrastructure, and that's why Elon's [recent] launch was so important.

“Within eight years of today, we will have the first data centres in space. Now, data centres are the things that your Netflix program comes from and your working day comes from. And without data centres, we couldn't run the planet anymore, but they're using more energy and producing more carbon output now than all of air transportation.

Whitehorn, a former president of Virgin Galactic and current chancellor of Edinburgh Napier University, added: “Therefore, to put those in space with infinite solar power is the answer, and thanks to the ability to get payload up cheaply, it's about to happen.”

Yvette Hopkins, who sits on the board of Women’s Enterprise, is from Shetland and served nearly 30 years in the US military in roles including intelligence and national security strategy.

Hopkins, an executive at the Shetland Space Centre and previously involved in the SaxaVord launch site project, said: “Is anybody watching The Diplomat? There’s a scene at the end where she’s talking about Scotland’s significance. Take a look at that scene - I was blown away by it. One of our best characteristics here in Scotland is also one of our worst: we don’t raise our head above the parapet.

“This is the time to raise our head above the parapet and shout loud and proud about what we’re doing. More satellites being built in Glasgow than anywhere else. Edinburgh’s the data innovation centre of Europe. Of the UK’s seven spaceports, five of them are here in Scotland. Geographically…Scotland is absolutely a launch pad in itself.

“We’ve got to ensure that it does not go the way of oil and gas, that it does not go the way of renewables - Scotland has to get its rightful share of space.”

Stuart Fyvie, who has 25 years experience in construction and infrastructure, is the co-founder and technical director at Fire Arrow. Fyvie said: “When I first got involved in space in 2018 and came back to the office and told them we’ve got a space port, people just laughed. What are you talking about space? But now they’re seeing it as what it is.

“It’s just another high tech industry that needs to be normalised, that needs offices and data centres and infrastructure. On the global stage, the UK is really punching above its weight and the message that we in the sector need to convince the government on is that this is something we need to lead in as a country.

“When you hear space, do you hear that as an opportunity? If you’re an architect, an engineer, a lawyer, a town planner or whatever it happens to be. Once you figure out how it works, it’s just like another high tech industry. We’re on the cusp of building a lot of infrastructure, there are big projects on the way.”

Fyvie says that professional services will experience a boom in business in burgeoning fields of space and law, for instance, or financial services and investment in the industry.

In September, the Scottish Government announced at Space-Comm Expo in Glasgow that Daniel Smith, a prominent entrepreneur in the sector, would serve as Scotland’s Space Envoy to build new investment opportunities.

The number of space-related companies based in Scotland has risen 25 per cent in the past year, according to the government, and the industry’s income has soared 65 per cent over the same period.

Richard Lochhead, Scotland’s business minister, estimates the space sector already supports around 8,000 jobs and that the country could seize £4 billion of the global space market.

There are currently around 10,000 satellites in orbit but this figure is expected to balloon to 50,000 by 2030. The World Economic Forum estimates the global sector could be worth £1.4 trillion by 2035.

Whitehorn, Hopkins and Fyive were speaking at the Women in Property summit in Edinburgh.