Europe is investing 3.4 billion euros in the Galileo GNSS satellite navigation system to provide an alternative to the US GPS system. Galileo will consist of 30 satellites providing global coverage with better accuracy of over 1 meter. It will offer several services like open service, safety of life service, commercial service, and search and rescue. The system is expected to generate 10 billion euros annually and create 100,000 new jobs in Europe.