(Last Updated On: March 31, 2023)

Spain has officially launched its own space agency, the Agencia Espacial EspaƱola (AEE), with an initial budget of more than 700 million euros ($753 million) for 2023. The country’s Council of Ministers approved the move in March, and the agency will be based in Seville.

The AEE will be tasked with ensuring Spain’s strategic action in space development and usage, such as in areas of Earth observation, telecommunications, geolocation, and security.

The Minister for Science and Innovation, Diana Morant, said that the development will help Spain strengthen and coordinate its space sector, which is already part of the European Space Agency (ESA). Additionally, Spain is making 45 million euros in funding available to launch startups.

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Spain’s efforts to enhance its space sector could provide numerous benefits for the country’s economy. Through the development of the AEE and related investments, Spain could expand its domestic capabilities in areas such as satellite communications, Earth observation, and meteorology.

These technologies could benefit various sectors, including agriculture, shipping, transport, and emergency response. In addition, by promoting space-related innovation, Spain may attract new businesses and highly skilled workers, boosting its competitiveness in the global marketplace.

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The creation of the AEE will also provide opportunities for collaboration with other space agencies and private companies, potentially leading to the development of new partnerships and joint ventures.

Such collaborations could lead to the transfer of knowledge and technology between countries, benefiting both Spain and its partners. Moreover, by supporting space startups, Spain may foster the growth of a thriving space industry within its borders, creating new jobs and contributing to economic growth.

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The launch of Spain’s own space agency is an important step towards developing a national space strategy and fostering innovation and growth in the sector.

By investing in its own capabilities and promoting collaboration with other countries and companies, Spain may unlock numerous opportunities and reap significant economic benefits.