Hungary’s National Economy Minister Says His Country’s Satellite Production Enhances Sovereignty & Positions Nation as Key Space Industry Player

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At the inauguration of the new space technology production center in Martonvásár, just outside Budapest, Márton Nagy, Hungary’s national economy minister, discussed the nation’s prospects in the space industry. He mentioned that Hungary’s robust economic ecosystem, infrastructure, and intellectual capital are pivotal for its emergence as a significant player in the sector.

During the event, which marked the collaboration between 4iG and space engineering firm REMRED, Nagy pointed out that satellite production is crucial not only for economic and security purposes but also for national sovereignty. He shared optimistic views on the space industry, recognizing it as one of the fastest-growing and most crisis-resistant sectors globally. Predictions suggest that the global space economy could surge to $1.8 trillion by 2035, up from $630 billion last year.

The investment by 4iG and REMRED, totaling over 10 billion forints (approximately EUR 25.6 million), is expected to generate at least 85 high-value-added jobs, according to Minister Nagy.

Featured image: Minister Márton Nagy. Credit: MTI/Vasvári Tamás

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