Airbus, Leonardo, and Thales have agreed to merge their space activities into a new company by 2027, aiming to enhance Europe’s space autonomy. The joint venture will focus on telecommunications, navigation, earth observation, and national security services. The new firm is projected to have 25,000 employees, a 6.5 billion euro turnover, and significant annual benefits. Airbus, Leonardo, and Thales will contribute their space divisions to the venture. Airbus shares rose by 0.63% in the Paris market.

Read more at Nasdaq: Airbus, Leonardo And Thales To Jointly Create New European Space Firm