The UK's House of Lords UK Engagement with Space Committee has published a scathing report, "The Space Economy: Act Now or Lose Out," declaring that the 2021 National Space Strategy has "failed to turn its ambitions into reality."

The verdict is blunt: "The UK space sector lacks the strategic direction necessary for success."

Brit scientists over the Moon after growing tea in lunar soil

The space sector contributes £18.6 billion to the UK economy, employs approximately 55,000 people and has enviable technological prowess when it comes to building satellites and payloads. The industry is more than twice as productive as the UK average and currently accounts for between 4.3 percent and 6.1 percent of the global space economy. But the latest figures reveal an 8.9 percent contraction betwee

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