World news
š Airbus, Leonardo, and Thales Create a SpaceX Competitor
Three of the largest European companiesāAirbus, Leonardo, and Thalesāhave signed a memorandum to create a new leading player in the space industry.
The new combined company is intended to strengthen European strategic autonomy and competitiveness in the global market.
The companies’ assets in satellite systems production and space services will be merged. The total workforce will be around 25,000 people. The new company’s annual turnover will be approximately ā¬6.5 billion.
Airbus will hold a 35% stake, with Leonardo and Thales each holding 32.5%.
The company is expected to start operations in 2027. Executives stated that the merger will accelerate innovation and create a “sustainable European space player with the critical mass to compete globally.”
The project is also expected to yield significant synergy effects, forecast at “mid-three-digit millions of euros” annually.
