SpaceX rival's financial gains fueled by Elon Musk's apprehension towards SpaceX in Germany
Europe's Aerospace Giant, OHB, Anticipates Growth Amidst Increasing Skepticism Towards SpaceX
In the ever-evolving aerospace industry, OHB, a renowned German company based in Bremen, is thriving. The company is benefiting not only from increasing demand from civilian and military customers but also from rising skepticism towards SpaceX, the globally dominant aerospace provider, in Europe.
Marco Fuchs, the CEO of OHB, has noticed a shift in attitudes towards SpaceX products. "Today, if you come with SpaceX products, many people in Europe say: No, thank you, we don't want that," Fuchs shared with the business magazine "Capital." Although Fuchs maintains a personal acquaintance with Elon Musk, the man behind SpaceX, he has not seen him for some time.
Currently, European alternatives to Musk's satellite network, Starlink, are being developed to minimize dependence on the United States. Fuchs believes this trend will result in substantial contracts for OHB. However, he acknowledges that the Europeans are struggling to catch up with Starlink's progress, likening it to starting an airline and claiming it will surpass Lufthansa without first mastering the fundamentals.
SpaceX, under Musk's leadership, remains the unrivaled aerospace company. Fuchs states, "That's not going to change anytime soon. Quite the contrary, the lead is constantly growing."
In the future, OHB aims to expand in the military sector and establish itself as a company that builds satellites for military purposes. This shift has sparked internal discussions. Fuchs expresses a sense of comfort in working with the German military as a customer. He contends, "The last years of war in Ukraine and the last months of American politics have shown that we can't always just say nicely: Defense is none of our business, others do it for us."
Founded in Bremen in the early 80s, OHB employs 3,500 people at 15 locations. The company, among other things, builds satellites and parts for manned space flight, including those for the International Space Station. OHB's subsidiary, Rocket Factory in Augsburg, is one of several German companies working on new rockets that will compete with SpaceX and other providers of launch systems in the future.
By capitalizing on the growing skepticism towards SpaceX in Europe, OHB stands to gain from increased contracts for satellite manufacturing, launch services, and space infrastructure projects. As Europe prioritizes its own space capabilities over foreign competitors like SpaceX, OHB is well-positioned to secure large contracts.
As Europe prioritizes its own space capabilities and shows growing skepticism towards SpaceX, OHB, with its expertise in satellite manufacturing and space infrastructure projects, stands to gain from an increase in contracts. To further solidify its position, OHB is actively exploring opportunities in the military sector, offering vocational training to its workforce for building satellites specifically for military purposes, grounded in the community policy of self-reliance and industrial growth within the space-and-astronomy sector, while keeping a watchful eye on the advancements in finance that may influence the industry's future.
