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International Business Times
International Business Times
Business

Europe Needs Reusable Rockets To Catch Musk's SpaceX: ESA Chief

European Space Agency director Josef Aschbacher is calling on Europe to pay up to compete in a booming space economy (Credit: AFP)

Europe must quickly get its own reusable rocket launcher to catch up to billionaire Elon Musk's dominant SpaceX, European Space Agency director Josef Aschbacher told AFP in an interview.

While the US company has an overwhelming lead in the booming space launch industry, a series of setbacks, including Russia's withdrawal of its rockets, left Europe without an independent way to blast its missions into space.

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