Germany Boosts Space Sector With Billions in Investments and Strategic Plans
Germany is boosting its space sector, with billions invested and strategic plans in place. Federal Minister for Research and Space, Dorothee Bär, has declared space as an 'economic environment' and a 'fundamental necessity'.
Germany, the largest contributor to the European Space Agency (ESA), is allocating more than nine billion euros to the space sector in this legislative period alone. This investment supports high-tech firms collaborating with ESA, including those backed by programs like the European Launcher Challenge and the Space Innovation Hub. The Hub aids start-ups and research projects in the space sector.
The global space industry is projected to grow by around ten percent in the coming years. Germany, recognising the sector's potential, has designated it as a strategic area within its High-Tech Agenda. Minister Bär stressed the growing importance of the aerospace sector, emphasising industrial sovereignty and growth in this strategic field.
With substantial investments and strategic plans, Germany is positioning itself as a key player in the global space industry. The country's commitment to the sector, as demonstrated by its contributions to ESA and support for local companies, is set to drive growth and innovation in the coming years.
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