Skip to content

Europe turns to SpaceX for launch needs due to tensions with Russia

Europe turns to SpaceX for launch needs due to tensions with Russia

The European Space Agency (ESA) is allegedly in discussions with Elon Musk’s SpaceX to use its launchers, at least temporarily. 

This discussion comes as a result of the Russian Soyuz rockets being blocked after Russia decided to invade Ukraine, according to a report released by Reuters on August 12.  

ESA Director General Josef Aschbacher mentioned that besides SpaceX, cooperation with Japan and possibly India could be on the table for the Europeans, as they’re currently in an exploratory phase, and these backup solutions will be temporary. 

“I would say there are two and a half options that we’re discussing. One is SpaceX that is clear. Another one is possibly Japan. Japan is waiting for the inaugural flight of its next-generation rocket. Another option could be India. SpaceX, I would say, is the more operational of those and certainly one of the backup launches we are looking at.”

He also added:

“We of course, need to make sure that they are suitable. It’s not like jumping on a bus. We are looking into this technical compatibility, but we have not asked for a commercial offer yet. We just want to make sure that it would be an option in order to make a decision on asking for a firm commercial offer.”

Boon for SpaceX

The fallout caused by the Russian invasion of Ukraine has been a bit of a boon for SpaceX as other companies, like Northrop (NYSE: NOC), were also looking into severing ties with Russia.

Furthermore, Satellite internet firm OneWeb, a competitor to SpaceX’s Starlink satellite internet venture, booked one SpaceX Falcon 9 launch in March. 

On the other hand, the entire development with Russia could be a learning moment for Europe, which was highly dependent on Russian energy and space technology until now.

Issues surrounding the war were an abrupt and painful cut, forcing numerous European businesses to look for quick alternatives, which do not always represent the best solution.  

Buy stocks now with Interactive Brokers – the most advanced investment platform


Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk. 

Best Crypto Exchange for Intermediate Traders and Investors

  • Invest in cryptocurrencies and 3,000+ other assets including stocks and precious metals.

  • 0% commission on stocks - buy in bulk or just a fraction from as little as $10. Other fees apply. For more information, visit etoro.com/trading/fees.

  • Copy top-performing traders in real time, automatically.

  • eToro USA is registered with FINRA for securities trading.

30+ million Users
Securities trading offered by eToro USA Securities, Inc. (“the BD”), member of FINRA and SIPC. Cryptocurrency offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk, and content is provided for educational purposes only, does not imply a recommendation, and is not a guarantee of future performance. Finbold.com is not an affiliate and may be compensated if you access certain products or services offered by the MSB and/or the BD

Read Next:

Finance Digest

By subscribing you agree with Finbold T&C’s & Privacy Policy

Related posts

Sign Up

or

By submitting my information, I agree to the Privacy Policy and Terms of Service.

Already have an account? Sign In

Services

Disclaimer: The information on this website is for general informational and educational purposes only and does not constitute financial, legal, tax, or investment advice. This site does not make any financial promotions, and all content is strictly informational. By using this site, you agree to our full disclaimer and terms of use. For more information, please read our complete Global Disclaimer.