The space sector presents a golden opportunity for Scotland’s future.

By 2030, the international market is estimated to be worth $1 trillion a year, and we want to capture a £4 billion share of it for Scotland by 2030.

There’s no doubting this is ambitious - but it is equally achievable.

Space and the satellite sector is playing a increasing role in every day life from communications, logistics, financial transactions to monitoring climate change. That’s why thousands of more satellites will be launched n the years ahead.   

The latest figures show that the number of companies in Scotland operating in the space sector increased by 25% in the space of a year, and their combined income increased by 65% in the same period.

READ MORE: Scotland appoints first 'space envoy' to boost growing sector

In a few short years, Scotland’s sector has gone from one man in his office to a multi-million pound industry employing more than 6,000 people across over 200 companies and organisations.

As these figures grow, so does our international reputation. That in turn is delivering new partnerships, new investment and new opportunities.

This week saw the largest gathering of the space industry ever hosted by Scotland. The Space-Comm Expo, held at Glasgow’s SEC, brought together experts, businesses, academia, governments from across the world.

Glasgow is renowned for its shipbuilding heritage, but did you know that is now the biggest small satellite manufacturing hub in the world outside of California?

This was a first-of-its-kind opportunity for many Scottish businesses, entrepreneurs and innovators to make connections, collaborate, and drive forward this enormous economic opportunity.

To that end, I was pleased to announce at the Expo that I have appointed serial space entrepreneur Daniel Smith as Scotland’s first Space Trade and Investment Envoy.

Daniel, through the development of multiple highly successful global space companies, is well connected and knows what is required to grow small domestic companies in international markets.

With his wealth of experience and connections, he will attract further inward investment while providing the Scottish Government with advice on how to expand Scotland’s already thriving space ecosystem.

I was also pleased to witness a range of new partnerships being made and developed between companies, organisations and countries.

But the advancement of our space sector is not just an economic opportunity, it’s also creating an enormous force for good across society, helping the global community solve some of the biggest and most pressing challenges we face in the 21st century.

READ MORE: Industrial revolution gets set to go into orbit

It’s also creating jobs across Scotland from spaceports in Shetland to rocket manufacturers in Forres.

South of Scotland Enterprise meanwhile launched its own Space Strategy ahead of the Expo, bringing a focus to how the sector’s vast potential can work for the region – not just in terms of growing its share of the space market, but utilising the technology to help other sectors in its economy.

This Space-Comm Expo reinforced what I already believed: space can be, will be - and indeed already is - Scotland’s next industry boom.

We can look back and identify the many periods of innovation in science and technology that have shaped Scotland, and also saw Scotland helping shape the world.

Scotland’s space sector is doing that right now.

If you ask me when it’s time for lift-off, my answer is: we already have.