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Poland marks breakthrough moment in space with launch of EagleEye satellite: daily

20.08.2024 11:20
In a significant milestone for Poland's space ambitions, Elon Musk's SpaceX successfully launched the country's largest satellite, EagleEye, into orbit on Friday.
Illustrative photo.
Illustrative photo.CC0 / https://pxhere.com/pl/photo/893750

The achievement underscores Poland's growing capabilities in the global space industry, a market already valued at hundreds of billions of dollars and expanding rapidly, according to a report in Tuesday's edition of the Polish daily Rzeczpospolita.

The newspaper highlights the impact of this success on Poland's financial markets, noting that shares of Creotech Instruments, the Polish company leading the consortium behind EagleEye, surged by over ten percent on Monday on the Warsaw Stock Exchange.

"This is a breakthrough moment," Rzeczpospolita asserts. "It shows that Poland is now capable of executing entire space missions, not just providing subsystems for larger projects led by foreign companies."

Data provided by the Polish Space Agency (POLSA) to Rzeczpospolita indicates that in 2022, the total revenue of the European space sector reached USD 92.7 billion (EUR 85.5 billion). Of this, satellite navigation accounted for 60 percent, while satellite communications made up 31 percent. The European space industry now employs over 231,000 people, reflecting its substantial economic footprint.

Poland's own space sector is rapidly growing, comprising more than 400 entities, including companies and research institutes. Over 200 of these regularly collaborate with the European Space Agency (ESA). The sector employs approximately 15,000 people, with contracts won by Polish companies exceeding EUR 140 million.

POLSA projects that 90 percent of the EUR 180 million pledged for optional ESA programs will return to Poland through various contracts and orders.

(jh)

Source: PAP, Rzeczpospolita