Three of Europe's largest defence and technology companies have signed a memorandum of understanding to merge their space operations into a joint company. The aim is to strengthen Europe's strategic autonomy and competitiveness in the space sector.
Airbus, Leonardo, and Thales have signed a memorandum of understanding to merge their respective space operations into a new joint company, according to a press release from Airbus on 23 October. The merger will include satellite and space systems manufacturing as well as space services, but not launch vehicles.
According to the companies, the initiative aims to create a leading European player with enhanced capability to develop technology, compete globally, and support national security and space programmes. The new company is expected to become operational in 2027, subject to approval from relevant authorities.
The new company is expected to generate approximately 6.5 billion euros annually and employ around 25,000 people. Ownership will be shared between Airbus (35 percent), Leonardo (32.5 percent), and Thales (32.5 percent), with joint governance.