Airbus, Thales, and Leonardo Join Forces in Space Merger to Compete with Elon Musk's Starlink

Written by Emily J. Thompson, Senior Investment Analyst

Source: CNBC

Updated: Oct 23 2025

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Source: CNBC

Joint Venture Announcement: Airbus, Leonardo, and Thales are forming a joint venture to create a leading European space player, aiming to compete with SpaceX's Starlink by developing a comprehensive portfolio of space technologies and services, excluding space launchers.
Ownership and Contributions: Airbus will hold a 35% stake and contribute its Space Systems and Space Digital businesses, while Leonardo and Thales will each have 32.5% stakes, contributing their respective space divisions and joint ventures.
Market Impact and Goals: The new entity is expected to generate significant annual synergies and employ 25,000 people, with a focus on enhancing Europe's technological sovereignty and providing a reliable alternative to Starlink.
European Space Strategy: The joint venture is seen as a pivotal step for Europe's space industry, with support from leaders like French President Emmanuel Macron, emphasizing the need for a unified European approach to compete globally and retain control over domestic space operations.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.