Europe Galileo GPS system faces budget shortfall after 2014

Europe’s ambitious Galileo Satellite system is an ambitious project between all member states which aims to secure Europe’s technological future, and place it on a stable footing in an increasingly profitable market. However, having secured EU funding up until the end of 2014, Galileo has received no assurances for the future.It is estimated that €1.9 billion will be necessary for the 2014–2020 period to complete the Galileo infrastructure. The operational costs of Galileo and EGNOS together are estimated at an annual €800 million. These estimates are provisional and without prejudice to the future multiannual financial framework of the EU budget.