Leonardo: space economy is a European challenge, heading towards an explosion in investments

ROME, Dec. 18, 2023 (GLOBE NEWSWIRE) -- A European challenge that will become central to global strategic balances in the coming years. The space economy is the new frontier where governments, investors and major industrial entities will be called to confront in an increasingly competitive scenario. An event organised by the Leonardo Foundation in Rome, in the Aula dei Gruppi Parlamentari of Montecitorio, on National Space Day, contributed to outlining the new challenges. Among the participants were the President of the Chamber of Deputies, Luciano Fontana, and the Minister of Business and Made in Italy with delegated responsibility for space, Adolfo Urso, along with key players and experts in the field.

Stefano Pontecorvo, President of Leonardo, is ready to bet on the potential of the Italian space sector. "The challenge of space economy is a challenge that must be won at the European level and will be central in the new global strategic balances," Pontecorvo emphasised, explaining that "in the next decade, the space economy will reach a total value of at least one and a half trillion dollars." And Italy, with Leonardo, will be in the game. "Days like today are especially important because they remind us how skilled we are in this sector. Italy is second to none when it comes to technological capabilities, and in this, Leonardo is very well positioned because we are one of the very few companies in the world that can cover all four value segments of space."

A boost to the development of the sector could also come from government initiatives, and on this point came the assurance of Minister Urso, who announced the drafting of a framework law for the sector by 2024. "If before a law on space was considered useful, today it is increasingly necessary and will strengthen international collaboration in this strategic sector by diversifying Italy's participation," he explained. And space, as noted by the President of the Chamber of Deputies Luciano Fontana, can have significant implications for development and innovation. "The great interest in space," Fontana observed, "offers new market opportunities. From this point of view, Italy boasts advanced skills in the space supply chain. The national sector consists of a vibrant and diverse ecosystem, centred on a global player like Leonardo but comprising about 200 companies."

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A video accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/d3c12fdf-7bc4-463b-ba8c-3f043558dd89