The European Union (EU) does not have the funding to create an independent space program. The newspaper writes about it Finance Times.
According to the publication, the lack of investment in EU space programs increases the backlog of the US and China in this field. It is stated that from 2019 to 2021, American investors invested 330 billion dollars in space projects, while at the same time, it is stated that the entire budget of the European Space Agency in 2022 is just over 7 billion euros (about 7.5 billion dollars).
As stated in the Financial Times material, US funds aim to maximize profits, while European funds are cautious and seek to “preserve, not make, profit”.
According to the Financial Times, this is mainly due to the small size of venture capital funds in the EU and the insufficient level of private investment in space programs due to their reluctance to participate in large-scale space projects. It is noted that to solve this problem, the European authorities need to create a plan to actively raise funds from private investors.
end of December reportedRoscosmos and the China National Space Administration signed a program for the development of cooperation in the space industry for the years 2023-2027.