“The space industry is the backbone — or the nervous system — of the modern economy.”
Invested by Europe explores the forces shaping the European economy. In each episode, we hear from experts tackling the most pressing challenges—from housing and energy to innovation and infrastructure, security and defence. We look at what’s changing, what the solutions are, and how Europe is investing in its future. Watch the full series on our website.
What this episode is about
When people think about space, they often think about rockets, astronauts and missions to the Moon. But space underpins services and technologies that Europeans rely on every day — from weather forecasting and navigation to communications, banking and agriculture.
In this episode of Invested by Europe, Pierre Limouzin, senior investment officer at the European Investment Bank, explains why space is a strategic sector for Europe’s economy and security, how the industry has changed in recent years, and what makes investing in space companies different from other technology sectors.
The conversation in brief
The space industry plays a central role in the modern economy. Globally, it represents a €500 billion sector, with around 20% of that activity based in Europe — roughly equivalent to the GDP of Portugal — and supports around 60,000 jobs across the continent. Space technologies generate data and services that feed into countless other industries, making them an essential input, rather than a niche activity.
Space is also a strategic domain for the economy and security. Space-based data is used in agriculture, transport and logistics, communications and the financial system, where it helps secure transactions. Many decision-making processes depend on space data, from managing infrastructure to monitoring risks. The same is true for security, where space technologies are critical for detecting and responding to threats.
Over the past ten to fifteen years, the space industry has changed dramatically. Easier access to space and large‑scale investment — particularly in the United States — have made it possible to launch many more satellites. As production and launch volumes increase, costs have fallen, transforming the economics of the sector and opening the door to new business models.
These changes are already shaping daily life in Europe. On average, a European citizen uses or benefits from 30 to 50 satellites, whether through weather forecasts, GPS navigation, highspeed internet or Earth observation. And this reliance on space-derived services is only expected to grow.
Investing in space comes with its own set of challenges. The sector combines deep tech innovation with infrastructure-like characteristics. Technological risks are high, development timelines are long and returns typically come later than in other technology sectors. At the same time, the space industry covers a wide range of technologies and use cases, with very different business models.
Europe has a strong industrial legacy in space, with established companies, skilled engineers and scientists, and a growing base of entrepreneurs. But competition from the United States and China has intensified. Supporting the full space ecosystem is essential if Europe is to maintain its industrial base and preserve sovereignty in a sector that is increasingly critical.
Among the industries more forward-looking developments are in-space manufacturing and experimentation, including biotech research in microgravity environments and the potential for data centres powered by solar energy generated in space.
Key takeaways
- Space underpins large parts of the modern economy, from communications and finance to agriculture and transport.
- Investing in space combines deep tech risk with long development timelines and diverse business models.
- Strengthening Europe’s space ecosystem is critical for competitiveness, security and sovereignty.
About the guest
Pierre Limouzin is a senior investment officer at the European Investment Bank, where he provides investment advisory services for the European Investment Council Fund. He focuses on the space and digital sectors and serves as an observer on the boards of several space technology startups, including IonX, Endurosat, Look Up Space, Infinite Orbits, Skyfora and Aldoria.
He has more than 20 years of experience in investment strategies and structured finance, having previously worked at CACIB, Airbus Group and the European Investment Bank. Pierre has an engineering and finance background and holds degrees from École Polytechnique and MINES ParisTech.
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