- Category: Latest News
- 2024-10-03
As the European Union prepares for its next Multiannual Financial Framework, which will define the EU budget distribution in the period going from 2028 to 2032, the awareness of the benefits that the space downstream sector can offer to the EU is more critical than ever.
This sector leverages satellite-based data and technologies across various applications and sectors, spanning from transport to environmental monitoring, and from aviation to critical infrastructure management, to mention just a few, playing a pivotal role in Europe’s economic growth, innovation, and security.
Since April 2024, Space Y has convened a dedicated working group to tackle the challenges currently hindering the full uptake of space-based data and services and the return for society of the substantial investments made by the EU in the design and deployment of its Space Programme infrastructure.
The European space infrastructure can potentially support number of sectors, increasing Europe’s economic competitiveness, safety and resilience. However, merely having this infrastructure is not enough. To maximise the benefits at European level, the European downstream space industry must be supported to develop efficient and competitive services. By doing so, they can create value across multiple sectors, stimulate economic growth, and ensure that investments in the EU Space Programme yield significant returns.
A Collaborative Approach
Space Y’s working group has been tasked with identifying the main challenges currently faced by the European downstream space industry, which can hinder its competitiveness and the full uptake of available space-based data and services by society.
Bringing together experts and stakeholders from various sectors of the space industry, the working group shared insights into the unique challenges and opportunities that are present in the varied space downstream market.
Through dedicated discussion meetings, the group is working on a comprehensive set of recommendations that will inform the EU’s budgetary decisions and support the sector’s growth.
The Role of Space Y
Space Y serves as the voice of the European downstream space industry, advocating for its interests and fostering an environment where innovative solutions can flourish. The organisation is committed to ensuring that the upcoming EU budget aligns with the strategic priorities of the sector, enabling European companies to maximise the potential of existing space infrastructure.
By focusing on the importance of satellite data and services, Space Y aims to raise awareness about the significant benefits that can be derived from leveraging space technologies across various sectors. This is essential not only for enhancing competitiveness but also for ensuring that Europe remains at the forefront of the global space economy.
Looking Ahead
The position paper that will be released by Space Y to share the findings of the working group will outline specific priorities that policymakers should consider when allocating funds under the next MFF and will include actionable recommendations to guide them in their efforts to support the space downstream sector in Europe.
This is an exciting time for the European downstream space industry, and Space Y is eager to engage with stakeholders, policymakers, and the public to unlock the full potential of space-based services to contribute building a competitive, autonomous, safe, and resilient Europe.