6- Galileo satellite navigation system-$6.3 billion
The global navigation satellite system currently is being built by the EU (European Union) and European Space Agency is called Galileo.
Galileo project got its name from the Italian astronomer Galileo Galilei. The project’s target is to provide an alternative of high-precision positioning system.
Basically it does the same thing as the Russian GLONASS and US GPS systems, but it was built as a help upon which European nations can rely, independently from the Russian’s and US’s GPS.
Galileo’s job is to provide horizontal and vertical position measurements within 1-metre precision and better positioning services at high latitudes than other positioning systems.
Ever since 2012, the headquarters for this project are in Prague’s district of Holešovice.
The European GPS might be a response to other nations’ GPS, but it come with a higher price tag than the others.
Launch and full use of all 30 satellites that will be part of the Galileo system will not be finished until 2019.
