European aerospace companies Airbus, Leonardo, and Thales have formed a partnership to create a competitor to the U.S.-based SpaceX, the companies shared in a joint statement.
The three corporations will establish a joint venture aimed at strengthening Europe’s strategic autonomy in the space sector.
The name of the new company has not yet been disclosed.
The venture plans to serve as a reliable partner in the development and implementation of national sovereign space programs.
The merger is intended to promote innovation, consolidate capabilities, and increase investment in the development of future space products and services. It will leverage the complementary resources and international experience of all three companies.
The combined operation is expected to generate hundreds of millions of euros in annual revenue within five years of launch. The new company will employ around 25,000 people across Europe.
According to Reuters, this is the most ambitious deal in the European aerospace industry since the establishment of rocket manufacturer MBDA in 2001.
Its primary aim is to respond to the rapid growth of competitors led by Elon Musk’s SpaceX, focusing in particular on competing with the Starlink satellite communications system.
