Space: Europe's satellite manufacturers pushing ahead with mega-merger - despite their space business booming
Airbus, Thales, and Leonardo plan to officially present their plans to the EU soon. The German competitors are concerned and warn of a market giant - as figures show.
Airbus's Defense and Space division has reported a significant turnaround, posting a profit of around 800 million euros last year, with projections of up to 1.3 billion euros by 2029. The division's success is attributed to increased demand for communication and surveillance technology, particularly satellites, from European governments.
The German military, for example, plans to invest 35 billion euros in space technology in the coming years. Airbus's competitors, including Thales and Leonardo, have also reported an increase in orders, and the three companies are planning to merge their satellite businesses in a joint venture dubbed "Project Bromo". The companies aim to finalize the merger by mid-2027, pending approval from the EU Commission.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
