Leonardo, Thales, and Airbus Set to Launch New European Satellite Venture

Italy's aerospace giant Leonardo, alongside Thales and Airbus, is on the verge of creating a new European satellite manufacturing entity. This strategic move aims to consolidate their efforts in the space industry to better compete with SpaceX.

Despite more than a year of complex negotiations involving power balance, valuations, and anti-trust issues, a final agreement remains unconfirmed. The provisional framework awaits approval from boards and regulators, influenced by a recent political crisis in France.

Airbus, Thales, and Leonardo, once leaders in commercial space, are now facing tough competition from Elon Musk's low-cost satellite ventures. The new integration is inspired by the 2001 MBDA venture, as European aerospace companies seek to unify fragmented resources and defend national interests, with expected scrutiny over governance roles.