Airbus, Leonardo, and Thales sign MoU for €6.5 billion space venture

Aerospace companies Airbus, Leonardo, and Thales have signed a Memorandum of Understanding (MoU) to establish a €6.5 billion European space joint venture by 2027. This initiative aims to unite 25,000 employees and enhance Europe"s competitive position against U.S. companies, particularly SpaceX and Starlink.

The collaboration reflects a strategic effort to strengthen Europe"s capabilities in the space sector, which has been increasingly dominated by American firms. The joint venture is expected to leverage the expertise and resources of the three companies to create a robust alternative in the global space market.

This announcement comes amid ongoing discussions about the future of space exploration and satellite technology, highlighting the importance of collaboration among European aerospace leaders. The joint venture is anticipated to contribute significantly to the European economy and innovation in the aerospace industry.

For more on related developments, see our coverage on recent developments in European politics.