European major satellite venture still needs some time to finalise, source says

A new major European satellite manufacturing venture led by Airbus, Thales, and Leonardo is still weeks away from finalizing its framework agreement, delaying progress in the competitive satellite market.

• The framework agreement involves major players Airbus, Thales Group, and Leonardo S.p.A., aiming to establish a significant satellite manufacturer in Europe.
• Sources indicate that the agreement's finalization will take several weeks, emphasizing ongoing negotiations between the involved parties in Rome and Paris.
• This venture is crucial for Europe as it seeks to bolster its position in the global satellite industry, currently dominated by other international competitors.