Ursula von der Leyen called at the International Space Summit, in Paris, for Europe to "act as one" in the space sector. The President of the European Commission defended that Europe has cutting-edge technologies, world-class talent and a solid space industrial base, but warned that "today's strength is no guarantee of tomorrow's leadership". The official called on the Commission, the European Space Agency and national governments to combine efforts to keep Europe at the forefront of this sector.
The Commission proposed 131 billion euros for defense, security and space in Europe's next multiannual budget framework, a value five times higher than the funding currently available. Von der Leyen warned that the global space economy is expected to nearly triple by 2035, rising from approximately 630 billion dollars to approximately 1.8 trillion dollars.
Through the Cassini investment mechanism, Europe is mobilizing 2 billion euros in venture capital for European space companies. Additionally, the 5 billion euro Scaleup Europe Fund will invest in strategic technologies, including the space sector, having already made its first investment in the Finnish satellite company ICEYE.
The official also highlighted the IRIS 2 constellation, a project of more than 10 billion euros that was reinforced in August with 66 new satellites, raising the constellation to more than 350 satellites, providing additional capacity for defense, security and emergency services. Von der Leyen advocated for the creation of a common market for the sector, with the proposal for a "Single Market for satellite communications" and an EU Space Regulation that "replaces fragmentation with a common European framework".
