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GNSS Investment Day – Investing in GNSS is key to European Competitiveness

On 16 March 2022, Space Y had the pleasure to moderate a roundtable at the GNSS Investment Day, an event co-organised by EUSPA and the European Investment Bank (EIB). The two organisations also co-authored the GNSS Investment Report, which was officially launched at the event.

Space Y very much welcomes the publication of this report as well as its conclusions.

Europe performs particularly well in the road, maritime and agricultural sectors. In fact, several European companies are global leaders in the manufacturing of GNSS components and receivers for road and maritime applications and the development of the system integrators used by the agricultural industry.

However, European companies tend to lag in such fast-growing sectors as consumer solutions and drones. According to the GNSS Investment Report, this, combined with increased, across-the-board competition from the downstream GNSS market, could chip away at Europe’s market share and future competitiveness.

“It is more important than ever that Europe keep on top of GNSS market trends by seeking more funds, developing strategic oversight and promoting risk-taking,” said Rodrigo da Costa, Executive Director of the EU Agency for the Space Programme (EUSPA) during the GNSS Investment Day.

The report, the first of its kind, quantifies the investment needs of major companies and looks at the impact the acquisition of EU companies by foreign investors has on Europe’s overall competitiveness. The study also examines the full innovation ecosystem, exploring the funding and support gaps that EU GNSS start-ups and companies face.

According to da Costa, EUSPA is leading the way in filling some of these gaps. For instance, in addition to providing numerous funding opportunities – including Horizon Calls and innovation competitions – EUSPA is constantly helping European companies best leverage EGNSS data, information and services.