Magda Cocco analyses the growth of the space sector in Portugal in recent years and presents future prospects for the industry in an article entitled ‘Space economy in Portugal: 2024 review and outlook for 2025’.

The VdA lawyer's analysis, published in SapoTek, points out that recent strategic policies and investments in the space sector have boosted the industry's growth in Portugal. This growth is evidenced by the number of companies in the sector increasing by 43 per cent since 2019, according to data from the Portuguese Space Agency for 2023.

Following this growth, in 2024 Portugal continued to implement the 2030 Space Strategy. In addition, through the Space Law and the creation of a licensing regime for the operation of launch centres, it was possible to boost the investment of private companies and the implementation of space activities in the country.

Magda Cocco also highlights the Recovery and Resilience Plan (PRR), describing it as crucial to the development of the sector, funding projects such as ‘New Space Portugal’ and ‘NeuraSpace’, which aim to build satellite constellations and space traffic management platforms.

Although 2024 was a year of considerable progress, Magda Cocco explains that new challenges have arisen for the sustainability of the sector, including the need to attract more private investment and the adaptation of the space strategy to new global challenges. The sector is awaiting the implementation of the European Union's new Space Law and other European regulations to create a favourable regulatory environment for the development of space services.

Portugal remains a key player in the space sector, as evidenced by the increased investment in the European Space Agency, which rose from 19.4 million euros to 30 million euros. For Magda Cocco, the outlook for 2025 is promising, but requires an effort from all stakeholders to transform potential into reality.

• This article can be found here.