Airbus, Leonardo and Thales form EUR6.5 billion space joint venture

Airbus SE, Leonardo SpA, and Thales SA announced on Thursday that they will combine their space operations to establish a new European company employing around 25,000 people and generating approximately €6.5 billion in annual revenue.

Under the agreement, Airbus will hold a 35% stake, while Leonardo and Thales will each own 32.5%. The new entity will operate under joint control with a balanced governance structure among the three shareholders.

The partners will contribute key assets from their existing space divisions. Airbus will bring in its Space Systems and Space Digital businesses from its Defence & Space division. Leonardo will contribute its Space Division, including its holdings in Telespazio and Thales Alenia Space, while Thales will add its stakes in Thales Alenia Space, Telespazio, and Thales SESO.

Headquartered across multiple European hubs, the new venture will integrate complementary technologies and end-to-end solutions spanning space infrastructure, applications, and services—but will exclude launch vehicle activities.

In a joint statement, the companies said the merger aims to enhance Europe’s strategic autonomy in space, a sector vital to telecommunications, navigation, earth observation, science, exploration, and national security. The new organization also intends to become a trusted partner for developing and executing national sovereign space programs.

While Airbus is legally headquartered in Leiden, the Netherlands, it operates mainly from Toulouse, France; Leonardo is based in Rome, and Thales in Paris.