European aerospace giants Airbus, Leonardo, and Thales have entered into a memorandum of understanding to create a new joint company dedicated to space activities. This initiative aims to bolster Europe's strategic independence in space exploration and technology development.
The companies plan to contribute their respective space divisions and share ownership equally among them. The new entity is expected to employ around 25,000 personnel across Europe and holds a backlog of orders that could sustain over three years of sales, with a projected annual turnover of approximately €6.4 billion based on 2024 figures.
Strategic Goals and Leadership
The collaboration emphasizes the development of sovereign space programmes for European nations, with the partnership poised to operate under a joint control structure. Industry leaders Guillaume Faury, Roberto Cingolani, and Patrice Caine expressed their commitment to creating a more competitive European presence in the global space market. They highlighted efforts to leverage shared expertise and research and development capabilities to foster innovation and generate growth.
The transaction is subject to regulatory approvals and is expected to be finalized by 2027, marking a significant milestone in Europe’s space industry development.
