Europe Ramps Up Space Budget by 30% to Compete Globally

European nations have agreed to increase their space budget by 30% over the next three years to 22.1 billion euros. This effort aims to catch up with the U.S., China, and private firms in the space race. The increased funding focuses on launches, satellites, and research programs.

In a significant move to bolster its competitive edge in the global space race, European nations have agreed to amplify their space spending by 30% to 22.1 billion euros over the next three years. This decision comes as part of the European Space Agency's strategy to match strides with the U.S., China, and burgeoning private firms in the space sector.

ESA's Director General Josef Aschbacher announced the landmark budget increase following two days of deliberations with 23 member states in Bremen. The funding will be allocated towards satellite launches, an array of research initiatives, and advancing Europe's spaceflight capabilities, marking the first instance in 50 years that the agency's request has been fulfilled.

The revitalized focus underscores space's strategic importance across economic, security, and defense landscapes, particularly in light of recent geopolitical developments like the Ukraine war. However, the budget excludes the UK-led TRUTHS mission due to Britain's withdrawal. Nonetheless, the agreed funds aim to stimulate Europe's space industry while nurturing emerging private launch ventures.

(With inputs from agencies.)