Space firms plot new European satellite venture to take on Starlink By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 03 2024
0mins
Source: Investing.com
Joint Space Company Initiative: Airbus, Thales, and Leonardo are in discussions to establish a new joint space company called "Project Bromo" to compete with Elon Musk's Starlink, aiming to create a standalone European satellite champion similar to missile maker MBDA.
Sector Restructuring Efforts: The proposed merger is part of broader efforts to revitalize Europe's struggling space sector amidst heavy losses and competition, although it may take years to implement and is separate from upcoming job cuts at Airbus.
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.
