8 Jul 2025
Can the EU jet itself into the space race?
The global space economy was valued at €572 billion in 2023, according to the European Space Agency, and it is estimated to reach €1.6 trillion in a decade.
The main focus of the new EU Space Act is launchers and satellites, which are increasingly important for activities as diverse as communications, navigation, meteorology and renewable energy.
However, Europe lags far behind the US and has spent just €12 billion in public funding on the space industry, compared with €65 billion in the US. The same applies to private investment: €980 million in the EU, compared with €3.6 billion in the US.