According to the European Space Agency, the global space economy was valued at 57.2 billion euros in 2023, estimated to reach 1.6 trillion euros in 10 years.
The main focus of the new EU space law is launchers and satellites. This is becoming increasingly important for diverse activities such as communication, navigation, meteorology, and renewable energy.
However, Europe is far behind the US, spending just 12 billion euros on public funds for the space industry, compared to 65 billion euros. The same applies to private investment: 980 million euros in the EU compared to 3.6 billion euros in the US.
This will be a hot topic in negotiations with the future European Competitiveness Fund, within the 2028-2034 EU budget.
“The total allocation to space is currently around 17 billion euros. We know that more is needed just to continue using existing systems,” European Defense and Space Commissioner Andrius Kubilius told EuroNews.
“We also hope that we will simplify the lives of those in the space industry and be prepared for the coming revolution,” Kubilius added in an interview.
Space security and defense
Space law creates a common set of rules across the EU, as security and resilience are the main pillars to minimize the risk of collisions, cyberattacks and other interference from hostile forces.
“Road Rules” aim to bring order to 11,000 satellites already deployed and 50,000 new satellites planned for the next decade.
“Space is considered a new frontier, conflicted zone where cyberattacks or electronic interference can occur on satellites or ground stations, for example. This could lead to new rules for risk assessment.
The new law does not apply to military use, but since 2023, presented shortly after the full-scale invasion of Russia’s Ukraine, there has been a European spatial strategy for security and defense.
The goal is to devise ways to secure the data connections between them, including space systems, supporting terrestrial infrastructure, and joint space exercises.
“There are some really good satellite systems like Galileo (and) Copernicus. Now we’re building IRIS2 for secure satellite communications. To provide those systems in space, we need the good transport system that Ariane 6 does.
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Journalist: Isabel Marquez da Silva
Content Production: Pilar Montero López
Video production: Zacharia Vigneron
Graphism: Loredana Dumitru
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