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Regulatory Filings • Dec 5, 2025
4127_rns_2025-12-05_d3515827-0dee-45eb-ad40-4811295530d9.pdf
Regulatory Filings
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Data/Ora Ricezione : 5 Dicembre 2025 08:00:11
Oggetto : ESA Ministerial Council 2025
Testo del comunicato
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RECORD-HIGH SUBSCRIPTIONS AT ESA MINISTERIAL COUNCIL OVER €600M OF NEW ORDERS EXPECTED FOR AVIO IN 2026-2027
Colleferro (Rome), 5 December 2025 – As recently resolved within the framework of the 2025 Ministerial Council of ESA Member States, which took place in Bremen on 26 and 27 November, the European space budget increased by 30% over the previous threeyear period to €22.1bn, the largest in ESA's history.
Italy confirmed its leading role in the sector, contributing with ca. €3.5bn (ca. +12% compared to the subscriptions in the 2022 Ministerial Council), accounting for ca. 16% of the total funds subscribed by ESA Member States.
Based on ESA Member States subscriptions, Avio expects new contracts to be awarded for over €600m in the period 2026-2027 with execution to be completed by 2028-2029 for both development and exploitation of launchers, essentially in line with Avio plans and guidance. In particular, ESA Member States subscriptions relate to the following activities:
- Vega C improvements: introduction of the new P160 first stage, of a new navigation system and of an adapted, enlarged and improved fairing, further improvements and stabilization of the second and third stage motor nozzles, elimination of certain technological obsolescence risks, production and flight rate capacity bottle necks reduction
- Vega E: complement to 2022 funding on certain technologies
- Space Rider: funding through completion and qualification mission
- P160: first step of production capacity increase effort targeting increased flight rates for both Vega C and Ariane 6
- High Thrust Engine (MR60): further steps in development and testing
On the basis of such outcomes, Avio is then confident to continue to play a pivotal role in the European access to space, actively contributing in strengthening the European autonomy and resilience in line with the goals set by ESA Strategy 2040.
Giulio Ranzo, Chief Executive Officer of Avio, said: "Following the exceptionally positive outcome of the 2022 ESA Ministerial Council, when the Vega E program and the reusable upper stage were launched, the 2025 ESA Ministerial Council confirms once again a central role of Avio and a consolidation of its product long term roadmap now stretching beyond Vega E with the MR60/HTE program. Also relevant the choice of the Member States to support a flight rate increase of Vega C and Ariane 6 via the funding of the P160 production rate increase. Additionally, Space Rider is now funded through Qualification. Italy's leading contribution underlines our country's central role in this sector, and Avio is proud to continue driving European autonomy and resilience in space."
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Avio is a leading international group engaged in the manufacturing and development of space launchers and solid, liquid and cryogenic propulsion systems. The experience and know-how built up over more than 50 years puts Avio at the cutting-edge of the space launcher sector and defense program. Avio is present in Italy, France, United States and French Guiana, employing more than 1,500 highly qualified personnel. Avio is the prime contractor for the Vega program and a sub-contractor for the Ariane program, as well as a leading solid rocket motor subcontractor for the design and manufacturing of major European tactical missile programs.