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The EU Proposes New Rules to Govern the European Space Race
The Space Act, which would apply to local and foreign companies, aims to simplify procedures, protect assets in orbit, level the playing field, and help European companies expand into new markets.
According to the EU executive, the draft legislation will boost the expansion of companies in the bloc into other markets, as it is designed to simplify procedures, protect assets in orbit, and promote a level playing field. Recognizing that compliance with the regulatory framework will entail considerable costs for the industry, the commission proposes a series of support measures, such as strengthening technical capabilities, facilitating access to testing facilities, and assistance with the authorization process. It encompasses both the industry dedicated to the manufacturing and operation of space systems and a wide range of services that impact areas such as climate, environment, agriculture, energy, transportation, insurance, banking, security, and defense.
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