The European Commission (EC) is proposing to earmark €16bn of the 2021-2027 EU budget to further develop the space sector and reinforce Europe’s access to space.
The Space Programme budget is expected to bring all the current and new space activities under the umbrella of a single programme.
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Of the proposed budget, €9.7bn will be for the EU’s global and regional satellite navigation systems Galileo and EGNOS, €5.8bn for the Earth Observation programme Copernicus, and €500m for the development of new security components.
ECvice-president Maroš Šefčovič said: “EU investment in space has already delivered world-class results to the benefit of European citizens and businesses.
“Over 10% of the EU’s GDP is already dependent on space-related services and major investments by the EU have enabled progress that no Member State could have achieved on its own. But we need to up our game.
“Space data can help our industries lead on the Internet of Things and automated driving, and help us more accurately monitor greenhouse gas emissions to make our climate action more effective than ever before.”
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By GlobalDataIn addition, the EU’s new space programme is expected to improve access to risk finance for space start-ups, and will allow the Commission to explore the formation of a dedicated equity instrument through its InvestEU programme.
The proposal will also help the EU maintain its strategic autonomy in the fields of critical infrastructure, technology, security and defence.
It will enable the EU to ensure efficient decision-making while increasing financial investment, helping the on time and on budget launch of all EU space activities.
The EC is expected to finalise the agreement on the overall long-term EU budget and its sectoral proposals as soon as possible.
