The Space Industry Bill received Royal Assent on 15 March 2018 

This will allow companies who satisfy the new licensing regime to launch spacecraft from UK territory, and to operate spaceports located in the UK. The Space Industry Act 2018 forms part of the Government's Industrial Strategy, which aims to develop the UK's small satellite manufacturing industry into a global hub for satellite operations and technology – with access to space.

Development in small satellite capability and affordability means that there is a growing market for low cost private launch facilities. It is hoped that the Space Industry Act will facilitate the development and investment required for the UK's first spaceport.