EU approves 30 pct space budget hike amid global race

BREMEN

European Union countries agreed on Nov. 27 to boost space spending by nearly 30 percent over the next three years, raising the budget to €22.1 billion to compete with the United States, China and private firms in the booming sector.

The decision came during a two-day ministers' meeting of the European Space Agency (ESA) in Bremen, where 23 member states approved the increase from the previous €16.9 billion for 2023-2025.

ESA Director General Josef Aschbacher hailed it as a historic first for the 50-year-old agency, saying it underscores space's economic importance and role in security and defense.

"This is an area where Europe must catch up," Aschbacher told reporters after the talks.

The push reflects Europe's quest for greater autonomy in security matters since Russia's invasion of Ukraine, amid France's ongoing budget crisis.

The U.K.-led TRUTHS mission for climate observation was dropped due to Britain's withdrawal over budget concerns.

The funds will support launches, satellites and research, helping Europe keep pace in the intensifying space race.