Airbus, Leonardo and Thales have signed a memorandum of understanding to merge their space activities into a single company.
By joining forces, the three giants aim to bolster Europe’s strategic autonomy in space. This vital sector supports telecommunications, navigation, earth observation, science, exploration and national security. The new venture will also act as a trusted partner for national sovereign space programmes.
The company will pool and develop a full range of complementary technologies and end-to-end solutions, excluding launchers. It will drive innovation to create a unified, resilient European space leader with the scale to compete globally and expand exports.
Together, the partners will strengthen investment in next-generation space products and services, using their combined expertise and assets. The merger is expected to deliver mid triple-digit million-euro annual synergies in operating income within five years, with costs in line with industry norms.
The partnership should unlock new revenues through a broader portfolio and stronger global reach. Greater efficiency in engineering, manufacturing and project management will fuel long-term value creation.
The new company will employ about 25,000 people across Europe, with a projected 2024 turnover of €6.5 billion and an order backlog covering over three years of sales.
Ownership will be split among Airbus (35%), Leonardo (32.5%) and Thales (32.5%), under joint control with balanced governance.
Employee representatives of Airbus, Leonardo and Thales will be informed and consulted on this project according to the laws of involved countries and the collective agreements applicable at each parent company.
Completion of the transaction is subject to customary conditions including regulatory clearances, with the new company expected to be operational in 2027.
