India, Oct. 24 -- Airbus, Leonardo, and Thales announced their plan to combine their space activities into a single new company. The move formalised through a Memorandum of Understanding (MoU), aims to create a significant European player in the global space market.

The proposed entity will combine the three companies' work in satellite and space systems manufacturing and space services. Its primary goals include strengthening Europe's strategic autonomy in space, increasing competitiveness, and supporting future sovereign space programs.

The combined company expects to begin operations in 2027, pending regulatory approvals and other closing conditions.

Airbus, Leonardo and Thales sign Memorandum of Understanding (MoU) to create a lead...