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Space

Europe’s institutional space business is expected to grow at an annual rate of 2.5% until 2010.

Worldwide, the underlying trend in the space economy is one of growth. Institutional budgets (USD 47 billion in 2005 for OECD countries) and new commercial revenues from space-derived products and services indicate this to be the case (source: OECD, 2007).

Europe’s institutional space business is expected to grow at an annual rate of 2.5% until 2010. However, the European space industry is currently waiting for decisions to be taken at the European Space Agency’s ministerial conference in November 2008 to create the needed momentum for the European space policy.