The €3 billion ($2.5 billion) Galileo system is intended to allow Europe to secure a chunk of the global satellite navigation market, which is expected to be worth €40 billion by 2005. Its development has been dogged by setbacks, with European transport ministers first delaying go-ahead late last year due to concerns about financing and the public-private partnership to develop it. Europe's transport ministers gave partial go-ahead in April, with an initial €100 million of funding, after the EC secured agreement from industry to invest e200 million up to 2005. A further e1 billion in public funds will be considered at year-end.
Source: Flight International