The global space industry has had a few mergers and acquisitions recently, strengthening regional presence and expanding technological capabilities. These deals reflect a strategic push to stay competitive, integrate complementary strengths, and position themselves strongly amid rising government demand, commercial activity, and national security needs.
Let’s take a closer look at the most significant, high-impact mergers and acquisitions (M&As) deals over the past over the past month:
1. Intuitive Machines Acquires Lanteris Space Systems -
In the first week of November 2025, US space technology company Intuitive Machines (IM) announced the acquisition of Lanteris Space Systems (formerly Maxar Space Systems) for US$800 million, comprising US$450 million in cash and US$350 million in Intuitive Machines stock. The deal positions Intuitive Machines as a vertically integrated space prime, expanding capabilities across the full spectrum of space operations.
Key highlights:
- Expected annual revenue: > US$850 million (the combined entity revenue exceeds $850 million)
- Backlog (as of Sept 2025): US$920 million
The acquisition expands IM’s capabilities from lunar missions to defense, civil, and commercial satellites, while strengthening U.S. competitiveness in spacecraft design, manufacturing, and deep-space operations. The move positions the firm to compete more aggressively in high-growth markets, including national security space and commercial satellite constellations.
2. Airbus, Leonardo & Thales Form a Unified Space Entity
Towards the end of October 2025 (23 Oct) Europe has made one of the biggest structural moves as Airbus, Leonardo, and Thales signed a Memorandum of Understanding to combine significant parts of their space portfolios into a new joint venture – a major step toward strengthening Europe’s strategic autonomy in orbit.
Key details of the partnership:
- Combined workforce: ~ 25,000 employees
- Pro-forma revenue (2024): €6.5 billion
- Ownership: Airbus (35%), Leonardo (32.5%), Thales (32.5%)
- Expected to be operational by 2027, pending regulatory approvals
This unified entity is set to become a leading European space powerhouse with enhanced capabilities in satellite manufacturing, space systems, Earth observation, and secure communications. For Europe, this marks the beginning of a more consolidated, globally competitive space ecosystem, ensuring Europe as a major player in the international space market.
3. Firefly Aerospace Acquires SciTec
In the first week of Oct 2025 (5th Oct), Firefly Aerospace – an American aerospace company, known for its commercial and government small- to medium-lift rockets, lunar landers, and orbital vehicles, announced the acquisition of SciTec – a national security technology company, for approximately US$855 million. The deal includes US$300 million in cash, with the remaining value delivered through Firefly shares.
SciTec’s contribution includes:
- Missile warning & tracking systems
- Intelligence, surveillance, and reconnaissance (ISR) analytics
- Low-latency, AI-enabled onboard processing
- US$164 million in revenue over the trailing 12 months
This acquisition sharply deepens Firefly’s defense capabilities, allowing the company to pair its flexible launch vehicles with highly sophisticated, software-driven sensing and data-processing solutions – a capability increasingly essential for modern defense architectures and responsive space missions.
Key Takeaway –
Each M&A depicts that companies are preparing for a future where the ability to serve both commercial and national security needs with equal agility. Several space companies are strategically combining strengths to broaden technological expertise, strengthen their positions, and target high-growth markets, from lunar missions and satellite constellations to defense and secure communications. As the space market becomes more crowded and competitive, consolidation allows firms to scale operations, and target high-growth segments.