Glasgow Prestwick Airport has signed an agreement with Houston Spaceport as it bids to become the UK's first launch site.

The South Ayrshire airport is developing plans for a spaceport that could see the first satellites and rockets launched from the UK.

The length of the runways and coastal take-off routes are said to be in Prestwick's favour, with a feasibility study indicating it could be operational with £1m of investment.

Leaders of Glasgow Prestwick Airport Spaceport met a delegation from Houston Spaceport and the Rice Space Institute on Tuesday to sign a memorandum of understanding.

Glasgow Prestwick Airport Spaceport director Richard Jenner said: "We couldn't wish for a more experienced partner than Houston.

"They have a long history of facilitating government-funded launches and it is exciting to be embarking on the move to commercial space launches alongside them."

He added: "Glasgow Prestwick developing a spaceport in Scotland will bring huge economic benefits - up to £320m towards our economy.

"This is before taking account of the further added value that the spaceport, our partners in the developing aerospace campus around us and wider science in technology industries in Scotland can gain from having access to Nasa research and resources."

The Civil Aviation Authority, UK Department for Transport and UK Space Agency have still to set out the regulatory framework before UK spaceports can be established.

Arturo Machuca, general manager of Houston Spaceport, said: "The pioneers who first made inroads in space travel and space exploration began as contestants in a race but soon realised that any hope of safely and efficiently reaching those goals would require productive and valuable partnerships.

"As we begin the next steps in this ambitious endeavour, partnerships like this with the Glasgow Prestwick Spaceport will benefit everyone, and will strengthen not only our assets and technology but also our resolve to make commercial space travel a viable and valuable tool for the future."