According to a Memorandum of Understanding (“MoU”) they will combine their respective spce activities. For example, in satellite and space systems manufacturing and space services.
Key player
The aim is to create a “key player in the space global market”. And for the the new company to be operational in 2027.
The wider context is to strengthen Europe’s autonomy in space. Increasingly this is critical infrastructure underpinning services related to telecomms, navigation, earth observation, and national security.
As such the new company will “serve as the trusted partner for developing and implementing national sovereign space programmes”, according to the official announcement.
Joint statement
The three firms released a joint statement. This is from Guillaume Faury (CEO of Airbus, pictured), Roberto Cingolani (CEO of Leonardo) and Patrice Caine (Chairman and CEO of Thales):
“This proposed new company marks a pivotal milestone for Europe’s space industry. It embodies our shared vision to build a stronger and more competitive European presence in an increasingly dynamic global space market. By pooling our talent, resources, expertise and R&D capabilities, we aim to generate growth, accelerate innovation and deliver greater value to our customers and stakeholders.
“This partnership aligns with the ambitions of European governments to strengthen their industrial and technological assets, ensuring Europe’s autonomy across the strategic space domain and its many applications. It offers employees the opportunity to be at the heart of this ambitious initiative, while benefiting from enhanced career prospects and the collective strength of the three industry leaders.”
European space company
The combined entity will employ around 25,000 people across Europe. In terms of annual turnover, a figure of about €6.5bn ($7.6bn) is quoted.
Ownership of the new company will be shared among the parent companies. Airbus, Leonardo and Thales will own, respectively, 35%, 32.5% and 32.5% stakes. It will operate under joint control, they say, with a balanced governance structure among shareholders.
The name of the entity has not been confirmed.
Contributions
In terms of the three company’s respective contributions…
Airbus will contribute with its Space Systems and Space Digital businesses, coming from Airbus Defence and Space.
Leonardo will contribute with its Space Division, including its shares in Telespazio and Thales Alenia Space.
Thales will mainly contribute with its shares in Thales Alenia Space, Telespazio, and Thales SESO.
Image: Airbus
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