Leonardo, Airbus, and Thales have announced the signing of a Memorandum of Understanding (MoU) aimed at merging their respective space activities into a new joint company.

The goal is to strengthen Europe’s strategic autonomy in Space, a critical domain that underpins essential infrastructures and enables key services in telecommunications, global navigation, Earth observation, scientific research, exploration, and national security. The new company will also be responsible for the development and execution of strategic Space programs at national level..

The new entity will design and deliver a comprehensive portfolio of complementary technologies and integrated solutions in the field of Space infrastructures and services (excluding launchers), positioning itself as a global player with the critical mass required to compete internationally and to fully exploit the sector’s strong growth potential.

The shareholding structure of the new company will be divided among Airbus (35%), Leonardo (32.5%), and Thales (32.5%), operating under joint control with a balanced governance among the 3 shareholders. Leonardo will contribute with its Space Division, along with its stakes in Telespazio and Thales Alenia Space; Thales will bring its shares in Thales Alenia Space, Telespazio, and Thales SESO; while Airbus will contribute with its Space Systems and Space Digital business lines, both part of Airbus Defence and Space.

The new company, expected to become operational in 2027, will employ around 25,000 people across Europe, starting from a pro forma annual revenue of approximately €6.5 billion (as of end-2024) and a backlog equivalent to over three years of projected revenues.

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