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    The future of the European space sector: How to leverage Europe's technological leadership and boost investments for space ventures - Executive Summary
    The future of the European space sector: How to leverage Europe's technological leadership and boost investments for space ventures - Executive Summary
    The future of the European space sector: How to leverage Europe's technological leadership and boost investments for space ventures - Executive Summary
    Ebook38 pages16 minutes

    The future of the European space sector: How to leverage Europe's technological leadership and boost investments for space ventures - Executive Summary

    By European Investment Bank

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    About this ebook

    The executive summary provides a short overview of the European space economy and its funding landscape and summarises the findings and recommendations of the study.
    The study reviews access-to-finance conditions met by companies active in the European space sector and proposes potential solutions to improve them. One of the principal objectives of this study is to analyse how public funds in the EU could be deployed to attract private investment and otherwise catalyse the development of the sector, considering also that such public funding should be entitled to achieve adequate returns. The study further explores how soft measures and advisory services could help promote private investment in the sector.
    Space is an important driver of innovation in Europe. While space used to be synonymous with government spending, today the sector sees the emergence of new private actors who see commercial opportunities in space exploration and exploitation. The study presents a number of recommendations and potential policy actions. One particular recommendation is to establish a Space Finance Forum: by bringing together the expertise of financial, industrial and academic stakeholders, we believe we will be able to explore and pilot new funding mechanisms and thereby catalyse private investment in the sector.
    The study was carried out by InnovFin Advisory in collaboration with the European Investment Advisory Hub, with the support of SpaceTec Partners.
    LanguageEnglish
    PublisherEuropean Investment Bank
    Release dateMay 16, 2019
    ISBN9789286140358
    The future of the European space sector: How to leverage Europe's technological leadership and boost investments for space ventures - Executive Summary

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      Book preview

      The future of the European space sector - European Investment Bank

      http://www.eib.org/en/infocentre/publications/all/the-future-of-the-european-space-sector-report.htm

      Executive Summary

      Europe boasts a strong space sector. This is largely the legacy of successful space programmes, particularly those on satellite navigation and Earth observation, mostly built on public support. However, the space sector is undergoing unprecedented transformation and development on a global scale. Major technology advancements, a new entrepreneurial spirit and a renewed policy focus have put the space sector under the spotlight on the global innovation stage.

      Such rapid and constant transformation calls for new approaches to funding and supporting space ventures.

      The global space economy grew by 6.7% on average per year between 2005 and 2017, almost twice the average yearly growth of the global economy of 3.5%. One aspect that has contributed to this growth has been the NewSpace phenomenon, a series of technological and business model innovations that have led to a significant reduction in costs and have resulted in the provision of new products and services that have broadened the existing customer base.

      Glossary

      NewSpace: a global trend encompassing an emerging investment philosophy and a series of technological advancements leading to the development of a private space industry largely driven by commercial motivations.

      The transformation of the space industry has seen space companies attract over EUR 14.8bn of investment since 2000. Moreover, it is picking up: the size of total investments into space companies grew 3.5x in 2012-2017 compared to the previous 6-year period.

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