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On October 23 (local time), aviation and defense giants Airbus, Leonardo, and Thales jointly announced the signing of a memorandum of understanding. The agreement outlines their intention to consolidate their respective satellite and space-related operations into a single, newly formed company. The merged entity is projected to commence operations by 2027, with Airbus holding a 35% stake, while Leonardo and Thales will each own 32.5%. This collaborative venture is expected to employ around 25,000 professionals across Europe and generate an estimated annual turnover of €6.5 billion. The primary objective behind this strategic consolidation is to bolster Europe’s homegrown space capabilities, positioning it as a formidable competitor to Musk’s ambitious Starlink initiative.
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