SpaceAirbus, Leonardo, and Thales to Create European Space Joint Venture
Airbus, Leonardo, and Thales have signed a Memorandum of Understanding (MoU) to establish a new space industry company, with operations expected to commence in Europe in 2027. The planned joint venture will combine the space activities of the three groups, pending regulatory and other customary approvals.
The move aims to consolidate European capabilities in critical space domains such as telecommunications, navigation, Earth observation, science, and national security. The partners project the new entity will employ approximately 25,000 staff and generate annual revenues of €6.5 billion by the end of 2024.
“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,” said Guillaume Faury, Chief Executive Officer of Airbus, Roberto Cingolani, Chief Executive Officer and General Manager of Leonardo and Patrice Caine, Chairman & Chief Executive Officer of Thales.
The initiative seeks to address Europe’s strategic autonomy in space, countering global competitors and supporting sovereign national programs. The venture will integrate complementary technologies and deliver infrastructure and services across civil and security markets.
The deal is also seen as a coordinated response to the rise of private space exploration companies, especially Elon Musk's SpaceX, which has dominated major public and private contracts.
Ownership will be split with Airbus holding 35% and Leonardo and Thales each controlling 32.5%. The company is set to operate under joint control with a balanced governance structure, and expects to generate operational synergies in engineering, manufacturing, and project management.
The CEOs of the three companies highlighted the alignment of this project with European governments’ ambitions to reinforce industrial and technological assets. They also emphasized opportunities for workforce skill development through broader technical capabilities.
The transaction remains subject to regulatory clearance and employee representative consultations. The partners anticipate the joint venture will be fully operational in 2027, following completion of all necessary approvals.
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