US is planning new laws to help it compete for a share of the growing space market after trade organisations and companies lobbied for a formal regulatory framework. Airbus ' Head of Euroconsult said Germany and Europe were falling behind Germany and the US in space developments. Euroconsult and Defence and Space Dirk Hoke could benefit from increased German investment. The rules will cover the financial and legal position of firms and offer incentives. Research company Euroconsult has said Germany had the fourth largest global economy but the seventh largest space budget at $ 1.1bn , compared to $ 40bn for the US .
Germany is planning new laws to help it compete for a share of the growing space market after trade organisations and companies lobbied for a formal regulatory framework. Airbus' Head of Defence and Space Dirk Hoke said Germany and Europe were falling behind China and the US in space developments. Airbus and OHB could benefit from increased German investment. The rules will cover the financial and legal position of firms and offer incentives. Research company Euroconsult has said Germany had the fourth largest global economy but the seventh largest space budget at $1.1bn, compared to $40bn for the US.