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Airbus, Leonardo, and Thales have signed an MoU to merge their space operations into a single European company, excluding space launchers. The entity will consolidate satellite manufacturing, space systems, and services, supporting telecommunications, navigation, earth observation, science, exploration, and national security. Headquartered in Toulouse, France, it will employ around 25,000 people and target an annual turnover of EUR 6.5 billion, with a backlog covering three years of projected sales. Airbus will hold 35%, while Leonardo and Thales will each own 32.5%, aiming for operational synergies and global competitiveness by 2027.
Airbus, Leonardo, and Thales are merging their space activities to form a single European company, excluding space launchers, to strengthen Europe's presence in the global space sector. The merger will combine Airbus's Space Systems and Space Digital businesses, Leonardo's Space Division including stakes in Telespazio and Thales Alenia Space, and Thales's holdings in Thales Alenia Space, Telespazio, and Thales SESO. Advertisement
The new entity, headquartered in Toulouse, France, will employ approximately 25,000 people across Europe. It is expected to generate an annual turnover of about EUR 6.5 billion, with an order backlog covering more than three years of projected sales. Ownership will be divided with Airbus holding 35%, and Leonardo and Thales each holding 32.5%, operating under a balanced governance structure.
The companies anticipate mid triple-digit million EUR synergies in operating income within five years of the merger. These efficiencies are expected from engineering, manufacturing, project management, and R&D integration. The consolidation will also unlock incremental revenues through an expanded portfolio of end-to-end space products and services, enhancing the entity's global competitiveness.
According to Airbus CEO Guillaume Faury, Leonardo CEO Roberto Cingolani, and Thales CEO Patrice Caine, the merger represents a milestone for Europe's space industry. Pooling talent, resources, and expertise is expected to accelerate innovation, generate growth, and deliver greater value to customers and stakeholders. Employee representatives will be consulted according to local laws and collective agreements, and regulatory approvals are required before operations begin, projected by 2027.
The initiative reflects Europe's response to growing competition from private space companies such as SpaceX, aiming to create a strong continental player capable of supporting national sovereign space programs while competing globally.
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