European ministers are meeting in Paris to agree to increase space funding by more than 25 percent over the next three years as Europe seeks to maintain leadership in Earth observation, expand navigation services and remain a key partner in research, Reuters reports.

The European Space Agency is asking 22 countries to support a budget of €18.7 billion for 2023-2025, up from €14.5 billion at its last three-year summit in 2019, amid pressure on public finances as well as the war in Ukraine.

Days after the unmanned launch of NASA's new lunar rocket with a European service module, the Paris meeting will consider plans for a new logistical lunar landing module, Argonaut.

Other initiatives include expanding Europe's global navigation system into low Earth orbit and launching a new Harmony satellite mission to expand climate research.

Europe is seeking to increase its share of space commercialization, which is currently dominated by U.S. firms such as SpaceX.

Private investment in space grew 86% between 2017 and 2021 worldwide, but only 14% in Europe.