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The U.K. is aiming to up its stake in the global space economy

A man in a space suit watches a television with school children ahead of the launch of space mission Principia in 2015. Photo: Ben Pruchnie/Getty Images

The United Kingdom Space Agency is working towards owning 10% of "the global space economy by 2030," CNBC reports, which "could be worth more than $109 billion."

The big picture: Per CNBC, the U.K. makes around 44% of the "world's small satellites," but doesn't have the means necessary for launching them into orbit. The UKSA plans to announce major funding grants "for the development of launch facilities."

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