Hungary’s economic ecosystem, infrastructure and intellectual capital are highly suitable for becoming a player in the space industry, the Minister of National Economy stressed. The groundbreaking ceremony for the Space Technology Manufacturing Centre of Lemred, a space industry portfolio company of 4iG Space and Technology Holdings, took place in Martonvasar (Central Hungary).
Márton Nagy said at the event that Hungary’s satellite manufacturing capacity is not only a matter of economy and security, but also a matter of sovereignty. He added that the space industry has a bright future, as it is one of the fastest growing industries in the world and is crisis-proof according to international studies, with its value predicted to increase from $630 billion in 2023 to $1.8 trillion in 2035.
The Minister,
The Remtec facility will see investments of more than 10 billion forints (25.7 million euros) and create at least 85 high-value jobs.
Nagy noted that the space industry, being at the pinnacle of technological development, has an extremely powerful multiplier effect and the resulting technological innovations can be leveraged in many other sectors of the economy.
Minister Marton Nagy. Photo credit: MTI/Vasvari Tamas
According to the minister, a “previously unimaginable venture” will soon become a reality, which is especially important since Hungary has excellent factories and production centers, but “it will be a Hungarian company with Hungarian technology.”
Istvan Saalhegi, co-founder of Remred and CEO of 4iG Space and Technology, said:
The investment in Martonvasar could make Hungary a major player in the global space market in the near future.
He noted that already in the planning stage of the center, the largest international companies and manufacturers have offered to cooperate, proving that the international market demand for the production of low-earth orbit (LEO) satellites and various space equipment is very large. In the space field, the country aims to develop new indigenous space assets and satellites based on its own engineering capabilities and become a strategic partner of leading satellite and space companies as well as domestic and international space agencies, he stressed.
4iG Group President Gellert Járczyk said 4iG Group and Remred’s investment will give the company unique capabilities and infrastructure in Central and Eastern Europe, adding that alongside the group’s traditional IT and telecommunications businesses, the space sector is its biggest growth potential.
The Space Technology Production Centre will have a floor area of 4,000 square metres, of which 1,500 square metres will be for workspace, 650 square metres for laboratories and 750 square metres for offices. The complex will be the only one in Europe to have a space equipment manufacturing capacity of up to 400 kilograms using modular technologies and will be used to design, manufacture and test satellites and cutting-edge space systems from 2026 onwards.
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Hungary has adopted its first Space Strategy for 2021. The strategy sets out Hungary’s vision to become a key player in space, deeply rooted in international cooperation. It sets out three mutually supportive strategic objectives: To leverage the space sector to stimulate innovation and contribute to the sustainable growth of the national economy; To strengthen Hungary’s international role, expand networks and create frameworks and further opportunities for cooperation; And To create essential and favorable social and economic conditions to foster the development of the space sector.
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Via MTI. Featured Image via Facebook/4iG Nyrt.
