Europe’s Potential to Rival SpaceX in Space Activities
The European Space Agency (ESA) believes Europe can compete with SpaceX in the growing space sector. On January 23, ESA Chief Josef Aschbacher expressed confidence in Europe’s ability to catch up with the US-based rocket maker. He highlighted this during the World Economic Forum in Davos.
Europe Must Scale Up Investments, Says ESA Chief
Aschbacher emphasised the need for increased funding to boost the space industry in Europe. He pointed out that companies require more resources to scale up operations and develop a strong space infrastructure tailored to Europe’s needs.
“Space is a domain of the future,” he said, noting its importance as a key area of technological advancement.
Investing in a Growth Sector
The ESA Director General also stressed that failing to invest in space would mean missing out on a promising growth sector. He underscored the commercial potential of space technology and how it could shape the future. According to him, building a competitive space industry in Europe requires immediate and strategic investment.
With inputs from Reuters
