Schaeffler and US-based satellite operator Spire Global have signed a memorandum of understanding to jointly develop space hardware and satellite platforms for European defense, weather, and security applications.
The companies intend to build a sovereign European space hardware and mission business before the end of this decade.
Spire, which uses its satellites to provide data, analytics, and software products, has the capacity to produce between 300 and 400 satellites per year across facilities in the US and Europe.
The German machine and auto parts manufacturer named space and defense among key growth drivers in its 2035 strategy.
"As a motion technology company, Schaeffler is ideally positioned to enter the new space sector," CEO Klaus Rosenfeld said.
The partnership aims to accelerate Schaeffler's entry into the space sector while strengthening Spire's presence in Germany.
