Airbus, Leonardo, Thales Unite to Revolutionize Space Ventures
Three major aerospace companies in Europe—Airbus, Leonardo, and Thales—have united to form a new joint venture aimed at enhancing their competitive edge in the global space market. This initiative, announced on October 23, involves merging several of their space-related operations into a singular entity.
Details of the Joint Venture
The joint venture will encompass Airbus Defence and Space’s Space Systems and Space Digital divisions. It will also include Leonardo’s Space Division as well as its shares in Telespazio and Thales Alenia Space. Additionally, shares from Thales in Telespazio and Thales Alenia Space will be part of the new organization.
Employee Count and Financial Projections
The new company aims to bring together approximately 25,000 employees from across Europe, focusing on satellite technologies and space services. It is projected to generate annual revenues of around 6.5 billion euros (equivalent to $7.5 billion) based on anticipated 2024 performance. This venture also boasts a significant backlog representing over three years of projected sales.
Ownership Structure
- Airbus: 35%
- Leonardo: 32.5%
- Thales: 32.5%
The companies believe this partnership will enable them to innovate faster and present a fortified European contender in the global space sector. In a joint statement, the executives emphasized this alignment with European government goals to reinforce industrial and technological capabilities, thereby supporting autonomy in the strategic space domain.
Development History of the Venture
The project, internally referred to as Project Bromo, has been under consideration for over a year. The goal is to consolidate operations to achieve the necessary scale for stronger global competition—especially against U.S. firms. Alain Fauré from Airbus highlighted that European space efforts are currently fragmented, and a merger would consolidate the strengths of the three involved companies.
Despite previous optimism, the announcement of the joint venture was delayed over summer due to governance discussions and valuation assessments. Leonardo’s CEO, Roberto Cingolani, expressed hope that the collaboration could transform European space operations into a formidable entity.
Anticipated Launch Timeline
The joint venture is expected to commence operations in 2027, pending standard regulatory approvals. Past discussions indicated that obtaining European antitrust clearance could take as long as two years, extending the timeline for the merger.
In summary, the alliance between Airbus, Leonardo, and Thales signifies a transformative step for Europe’s space industry, aimed at fostering greater competitiveness and innovation in the global market.
