SpaceX's Rival: Europe's New Space Project Project Bromo

A Strong Move from Europe Against SpaceX

Italian Leonardo SpA, French Thales SA, and Airbus SE have signed a preliminary agreement to establish a new joint venture aimed at strengthening satellite operations. This venture has been named "Project Bromo".

Equity Distribution and Expectations

In a joint statement, Airbus will hold a 35% stake in the new company, while the other two companies, Leonardo and Thales, will participate with a 32.5% stake each.

The new venture will be established in Toulouse, France, and is expected to employ 25,000 people. Its annual revenue is projected to be around $6.5 billion.

Source of Inspiration: The MBDA Model

Company executives stated that they will shape the new venture based on the model of MBDA, a missile manufacturer jointly owned by Airbus, BAE Systems Plc, and Leonardo. However, it was emphasized that various challenges need to be overcome.

Technological Support and Establishment Process

This consortium will gain new momentum by combining their experiences in space systems and digital business units. Leonardo and Thales will support it through the joint satellite network Telespazio and will transfer Thales Alenia assets. Additionally, Thales SESO will contribute to the project with its expertise in optical systems.

Future Stock Performance

The new venture is planned to become operational in 2027, and this development led to a stock price increase of 3.7% for Leonardo, 2.9% for Thales, and less than 1% for Airbus.

Moreover, a partnership was established in March 2025 between unmanned aerial vehicle manufacturer Baykar Technology and Italian Leonardo SpA.