The European Union is preparing to invest almost € 7 billion to get satellite Internet like Elon Musk

The European Union intends to get its own satellite Internet and plans to deploy a satellite system in low Earth orbit.

What is known

The EU wants to ensure maximum protection of key communication services and reduce the level of dependence on foreign companies. The bloc is ready to spend €6.8 billion to implement the idea. €2.4 billion will be allocated from the EU budget until 2027. Another €4.4 billion will be invested by the bloc countries, the European Space Agency and private companies.

Note that in the satellite Internet segment, the main player is SpaceX, which has already launched almost two thousand Starlink satellites. Amazon plans to create its own system in the near future. In Europe, OneWeb, which was bought out by the British government, may become a competitor.

A source: Bloomberg