{"id":31680,"date":"2023-09-11T11:30:05","date_gmt":"2023-09-11T10:30:05","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=31680"},"modified":"2023-09-11T11:55:43","modified_gmt":"2023-09-11T10:55:43","slug":"how-can-patent-applications-advance-the-uk-space-sector","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/how-can-patent-applications-advance-the-uk-space-sector\/31680\/","title":{"rendered":"How can patent applications advance the UK space sector?"},"content":{"rendered":"
Neil Condon and Felix Hall from EIP take a look at the important role patent applications and policies can play in the success of businesses in the UK space sector and beyond.<\/h2>\n
The rapid growth of the UK space sector<\/h3>\n
The UK space sector is worth over \u00a317.5bn each year and is growing faster than the rest of the UK economy. Its workforce, which comprises around 48,800 people, is the most highly qualified in the UK and has a productivity level per employee that is 2.5 times the UK average.<\/p>\n
The sector already forms an important part of the UK\u2019s knowledge economy, and this importance is set to increase over the next decade, given that the global space economy is predicted to expand from an estimated \u00a3270bn in 2019 to \u00a3490bn by 2030.<\/p>\n
In 2021, the UK Government published its national space strategy setting out its vision of the UK, performing cutting-edge research to sustain its competitive edge in space science and technology.<\/p>\n
The national space strategy sets out a ten-point plan of initial focus areas, one of which is to \u2018unleash innovation across the space sector\u2019 and generate intellectual property. So why are intellectual property rights, and more specifically, patents, important for the sector?<\/p>\n
Patent applications may help commercialise space technology<\/h3>\n