Core Viewpoint - The plan to establish a new European space power by Airbus, Thales, and Leonardo faces significant challenges, raising doubts about Europe's ability to remain competitive in the rapidly evolving space sector, especially against disruptors like SpaceX [1] Group 1: Company Collaboration - Negotiations between Airbus, Thales, and Leonardo began last year to merge their space businesses into a joint venture covering satellite manufacturing, space systems, and services [1] - If an agreement is reached by the end of this year, regulatory and political scrutiny may delay the merger's launch until after 2028 [1] Group 2: Industry Implications - The merger involves critical issues related to sovereignty, competition, and technological capabilities, impacting over 20,000 jobs across France, Germany, Italy, the UK, and other countries [1]