Airbus Defence and Space CEO Michael Schoellhorn has confirmed that European aerospace groups Airbus, Leonardo, and Thales could sign a deal before the end of 2025 to combine their satellite operations.
Called ‘Project Buomo’, the initiative would establish a pan-European satellite manufacturer to rival big businesses in the US and China. The plans had stalled over the summer, but Schoellhorn told Italian newspaper Il Correire della Serra on 14 September that talks were ‘on the right track’.
If it goes ahead, the join venture would be worth €10 billion (US$11.7 billion). Previous attempts to merge Europe’s satellite assets have failed due to competing national interests and security issues.
As geopolitical tensions remain high, Europe is keen to secure its native aerospace capabilities. Following Russian drone attacks on Poland earlier in September, Ukrainian President Zelensky even called for the creation of a joint European sky shield.
Meanwhile, Starlink, the low-earth orbit (LEO) satellite company founded by Elon Musk, was valued at US$350 billion in December 2025, making it the most valuable private company in the world. Project Buomo would create a credible European rival backed by regional companies.
If it goes ahead, the resulting cross-border satellite manufacturer would operate similarly to missile maker MBDA. Founded in 2001, MBDA is owed by Airbus, Leonardo, and BAE Systems. As well as big-picture European activities, the company is designed with sensitive national interests in mind.
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