EU provides €7-bn for satellite navigation programmes

EU provides €7-bn for satellite navigation programmes

SHARE

Belgium: The European Parliament has approved funding for the region’s two satellite navigation programmes—Galileo and the European Geostationary Navigation Overlay Service (EGNOS)— until 2020.The European Union will spend €7 billion ($9.4 billion) to complete the satellite navigation infrastructure and launch the provision of services.

“Galileo and EGNOS are an investment in our future. The opportunities and benefits that these systems will bring to the European economy and citizens are very significant. The overall economic impact of Galileo and EGNOS is estimated to be around €90 billion over the next 20 years. In addition to the opening up of new business opportunities, also every day users will be able to enjoy increasingly accurate satellite navigation services with every new satellite launch,” said Antonio Tajani, European Commission Vice President.

Source: Atwoline