Because European aerospace companies cannot compete with the US SpaceX on their own, these companies are banding together in the satellite sector to counter America's company.
According to a Reuters report, European aerospace companies Airbus, Thales and Leonardo announced on the 23rd that they have agreed to merge their satellite manufacturing businesses, which continue to be in a loss-making state. It aims to compete with emerging competitors such as SpaceX in the US.
European regulators have been cautious about similar initiatives in the past, but if approved, their goal is to establish a new company by the end of 2027.
According to the statements from the three companies, Airbus will hold 35% of the shares in the new company, while Thales and Leonardo each hold 32.5%. It is said that they will operate jointly to ensure "balanced governance".
The new company will have 25,000 employees in Europe, and based on the performance in 2024, it is expected to achieve annual sales of 6.5 billion euros (758 million dollars). After five years of integration, the synergies are expected to reach millions of euros in annual operating profits.
To date, these three companies have implemented approximately 3,000 layoffs in the aerospace field, but there has been no mention of further layoffs due to the integration.
For years, Europe's main satellite manufacturers have been competing to build geostationary orbit satellites, but they have been hit by the emergence of low-cost small satellites that can be launched into low Earth orbit.
Original: www.toutiao.com/article/1846776839636172/
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