TAMPA, Fla. — British component maker Olsen Actuators and Drives announced plans April 7 to open an office at Cape Canaveral to chase growing demand in the U.S. space industry.

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Jason Rainbow writes about satellite telecom, space finance and commercial markets for SpaceNews. He has spent more than a decade covering the global space industry as a business journalist. Previously, he was Group Editor-in-Chief for Finance Information...