The UK in collaboration with India’s Bharti Enterprises have won a joint bid for the satellite broadband operator OneWeb. This will go into direct competition with Elon Musk’s Starlink.
They have lauded this as a fantastic global opportunity where they hope to attain a 10% global market share in the commercial space sector by 2030 and hopefully create many UK domiciled jobs.
If the bid is ruled successful this would put the UK up there with North American GPS, EU’S Galileo Network and Russia’s lesser known GLONASS system.
It is worth noting that OneWeb filed for Chapter 11 in March, so the UK’s position here may be speculative at best. This may end up being Pie in the sky but only time will tell.
(This does not constitute investment advice or a recommendation)
