The continent is in danger of missing out on the next big tech boom, an influential panel warns.
, commissioned by the European Space Agency, says the space economy is at a similar inflection point to the internet 20 years ago.
The High Level Advisory Group was asked to assess Europe's economic and geo-strategic position within the global space ecosystem ahead of a major summit of European ministers in November. But to get its astronauts into space, Europe has had to rely either on American or Russian rocket systems. The panel highlights some of the dramatic changes taking place in the US, which are driven by the emergence of new, more efficient companies with very aggressive business models.
"Ten years ago, Europe had 50% of the launch market. Today, we are almost out of the market," commented HLAG member Cédric O, a former secretary of state for the digital sector in France.
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