European Aerospace Giants Unite Against Global Competition

In a strategic move to counter global rivals such as Elon Musk's Starlink, Europe's aerospace giants Airbus, Thales, and Leonardo have reached a preliminary agreement to form a new venture. The France-based merger, set for 2027, aims to consolidate European satellite manufacturing and services, strengthening regional sovereignty in a competitive market.

Employing 25,000 people and projected to generate revenues of 6.5 billion euros, the venture represents the most ambitious tie-up of European aerospace assets since 2001. The agreement, backed by French Finance Minister Roland Lescure, signifies a concerted effort to bolster profitability and adapt to market challenges.

Significant hurdles remain, as negotiations with governments, unions, and the European Commission are anticipated. Despite these challenges, the combined forces of Thales, Leonardo, and Airbus are positioned to elevate Europe's standing in the global satellite industry.