New law: Ariane Group employees work at a production line in Bremen. Germany’s new legislation will limit financial and legal liabilities of private companies should accidents happen in orbit and set standards for space operations. — Reuters
BERLIN: Facing tough competition from China, the United States and even tiny Luxembourg, Germany is racing to draft new laws and attract private investment to secure a slice of an emerging space market that could be worth US$1 trillion a year by the 2040s.
The drive to give Germany a bigger role in space comes as European, Asian and US companies stake out ground in an evolving segment that promises contracts for everything from exploration to mining of outer-space resources.
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