Macron Backs European Satellite Collaboration to Counter SpaceX

French President Emmanuel Macron has endorsed plans to establish a European satellite manufacturing leader, highlighting space as the new field of global competition. During the Paris Airshow, Macron emphasized Europe's need to challenge the broad interests of SpaceX, owned by Elon Musk, by focusing on coordinated development from launchers to technology.

The Paris Airshow, the largest event in aerospace, often a stage for hefty jetliner deals, is now dominated by geopolitical tensions and supply chain issues from the pandemic's aftereffects. Macron said, "Space is becoming a measure of international power," as he called for Europe's robust engagement in space endeavors.

The European satellite industry, despite its status as a top exporter, struggles with financial viability. Key manufacturers like Airbus, Thales, and Leonardo aim to combine forces, driven to compete against Musk's affordable satellites and advance the sector under Macron's strategic push, facing regulatory challenges.

(With inputs from agencies.)