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A Welsh airfield has been granted a share of a £2m development fund to investigate the possibility of using it to launch spacecraft.

Llanbedr Airfield lost out in the competition to host the UK's first spaceport to the A'Mhoine Peninsula in Scotland.

The site was described as being the best for vertical launches because of the distance to any population centres, meaning failing rockets can crash land safely in the North Sea.

However there is to be a £2m fund to investigate the potential for horizontal launches, which could send aircraft and satellites into sub-orbital flight.

The site at Llanbedr airfield, in Gwynedd, is one of a number of locations around the UK chosen by the UK Space Agency that will receive funding to develop spaceports, which the Government says will bring the UK into the space age.

Other sitews include Newquay in Cornwall and Glasgow Prestwick in Scotland.

The commercial space sector is estimated to be worth a potential £3.8bn to the UK economy over the next decade and the government says it will support Britain’s modern Industrial Strategy by creating high-skilled jobs and boosting local economies.

Previously speaking to WalesOnline, Aerospace Wales chief John Whalley said the former RAF training centre was an ideal location.

He said: “Our coastal location, unrivalled segregated airspace - unique in the UK – and low level of aircraft movements make Snowdonia Aerospace Centre a very strong contender for a UK spaceport.

“It meets all the key criteria, and its relatively central location in the UK also makes it the most easily accessible to organisations across the whole of the UK.”

Business Secretary Greg Clark launched the spaceport plans which the UK Government described as the "start of a Great British Space Age".

He said: “As a nation of innovators and entrepreneurs, we want Britain to be the first place in mainland Europe to launch satellites as part of our Industrial Strategy. The UK’s thriving space industry, research community and aerospace supply chain put the UK in a leading position to develop both vertical and horizontal launch sites.

“This will build on our global reputation for manufacturing small satellites and help the whole country capitalise on the huge potential of the commercial space age.”

The UK Space Agency selected the Sutherland site because Scotland is the best place in the UK to reach highly sought-after satellite orbits with vertically launched rockets.

However, Wales is already a centre of excellence for aerospace manufacturing, possessing the physical and intellectual infrastructure to support the growing space market.

Secretary of State for Wales Alun Cairns said: “The UK Government has an exciting ambition to take the UK into the commercial space age by enabling small satellite launch and spaceflight from UK spaceports. Wales now has an exciting window of opportunity to take a leading role in shaping that future.

“We have the right geography and a skilled engineering base in aerospace, electronics and the software industries, standing ready to diversify and to flourish in the fast-developing space market.

"The opportunities are vast – for Britain’s strategic capabilities and for Wales in terms of job creation, cross border synergies through the Northern Powerhouse, linking to our strong academic institutions and the potential economic impact. We must now stand ready to grasp them.”