INDUSTRY
Airbus and Saab are requesting greater European cooperation in the defense and space industry. Reuters reports.
The companies are worried that the US may reduce its involvement in NATO, given that Donald Trump won the US presidential election. The call for cooperation also comes as a result of Russia’s invasion of Ukraine in 2022, which raised defense issues on the EU’s agenda. The space industry faces fierce competition from players like Elon Musk’s Spacex, and the civil aviation industry fears new trade tariffs.
Guillaume Faury, who is CEO of Airbus, believes that Europe needs a unified strategy in the space industry and a consolidation of the industry to face global giants. He also urges EU legislators to adapt to market conditions globally, rather than just a domestic perspective, writes the news agency.
Airbus and Thales Alenia Space are in discussions to merge satellite operations, but previous attempts have been stopped by competition laws. Guillaume Faury also expressed that Elon Musk’s broad operations would likely not pass scrutiny under EU rules.
On the defense side, Saab CEO Micael Johansson emphasized the importance of increased European cooperation and purchases from European suppliers.
– We are at a breaking point. Without cooperation, we will never be able to compete with players like the US, said Micael Johansson.
The EU’s defense budget has increased by 31 percent since 2021 and is expected to reach 326 billion euros in 2024, but Micael Johansson believes that more cooperation is required to strengthen Europe’s competitiveness.
Source: www.nyteknik.se
