Airbus, Leonardo and Thales are combining forces to form a new major European player in the space sector designed to compete with the likes of SpaceX, Blue Origin and Boeing.
The unnamed new company, which is expected to begin operations in 2027, plans to pool technological expertise around space infrastructure in order to improve its ability to compete against well-funded American rivals.
The combined entity estimates it will eventually employ around 25,000 people across Europe with an annual turnover of about €6.5bn based on the existing space activities of the three firms. Ownership of the new company will be shared among the parent companies, with Airbus, Leonardo and Thales owning respectively 35%, 32.5% and 32.5% stakes.
While Airbus currently has the biggest standalone presence in the space sector of the three firms, Thales and Leonardo already run a joint entity called Thales Alenia Space that focuses on satellite systems and space navigation.
Airbus has been heavily involved in...