According to the new timetable, unveiled at the Farnborough International Airshow last month, the U.K. is planning to build $85.5 million spaceport (50 million British pounds) and anticipates a space tourism market worth $65 million each year, as well as a space plane industry worth $33.9 billion (20 billion pounds) by 2030.

The timetable lays out a number of other specific dates: The spaceport could be operational from 2016; the first suborbital flight would occur in 2018; the first sub-orbital space plane satellite launch from the spaceport would take place in 2020; rocket engine testing for the orbital space plane would occur in 2026, and that space plane would be operational four years later. [Evolution of the Space Plane (Infographic)]