{"slug":"avio","name":"아비오","name_en":"Avio","ticker":"AVIO.MI","updated_at":"2026-07-12T05:40:01.330546+00:00","canonical":"https://valuechain.wiki/avio","same_as":["https://finance.yahoo.com/quote/AVIO.MI"],"citable":"밸류체인 그래프 기준 아비오의 직접 연결 기업은 3곳(관계 기준 공급 1·매출 4·투자 1)이고, 사슬을 2차까지 넓히면 7곳에 닿는다. 링크의 근거 출처는 10건이며 그중 1차공시가 1건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Avio is directly linked to 3 companies (1 supply, 4 revenue, 1 investment relationships) and reaches 7 companies within two hops; the links are backed by 10 dated sources, 1 of them primary filings (as of 2026-07-12).","kicker":"Vega C 발사체·유럽 고체추진","kicker_en":"Vega C launcher and European solid propulsion","lead":"아비오는 Vega C 소형발사체의 프라임이자 Ariane 6의 P120C/P160C 고체 부스터를 만드는 이탈리아 추진 기업이다. 2025년 매출 5억4,170만 유로(+22.7%), 수주잔고 21억6,600만 유로로 사상 최대였고, 2025년부터 Vega 상업화 권한을 Arianespace에서 넘겨받아 발사 서비스까지 직접 판다. ArianeGroup향 부스터 계약(2억 유로 초과, 2029년까지)과 MBDA향 고체모터(Aster 30) 등 방산 수주가 연 2억5천만 유로를 넘고, 버지니아에 약 5억 달러 규모 고체모터 공장을 지어 미국 시장에 진출한다.","lead_en":"Avio is the Italian propulsion company that is prime for the Vega C small launcher and builds the P120C/P160C solid boosters for Ariane 6. FY2025 revenue was a record EUR 541.7 million (up 22.7%) with a EUR 2,166 million backlog, and from 2025 it takes over Vega commercialization from Arianespace to sell launch services directly. The ArianeGroup booster contract (over EUR 200M through 2029) and MBDA solid motors (Aster 30) push defense orders above EUR 250M a year, and a ~$500M solid-motor plant in Virginia opens the US market.","segments":{"parts":[{"desc":"Vega C 프라임 + Ariane 6 P120C/P160C 부스터. ESA 기관 프로그램·ArianeGroup향(2억 유로+)이 성장 동력.","name":"Space/Launchers (Vega C·P120C/P160C)"},{"desc":"MBDA(Aster 30)·RTX향 고체 로켓 모터 — 연 2.5억 유로+, 버지니아 신공장으로 美 진출.","name":"Defense (고체 로켓 모터)"}],"total":"FY2025 매출 €541.7M (+22.7%)","concentration":"ESA·유럽 기관과 ArianeGroup 집중, 수주잔고 €2,166M"},"segments_en":{"parts":[{"desc":"Vega C prime plus Ariane 6 P120C/P160C boosters; ESA institutional programs and the ArianeGroup contract (EUR 200M+) drive growth.","name":"Space/Launchers (Vega C, P120C/P160C)"},{"desc":"Solid rocket motors for MBDA (Aster 30) and RTX — EUR 250M+/yr, entering the US via the new Virginia plant.","name":"Defense (solid rocket motors)"}],"total":"FY2025 revenue €541.7M (+22.7%)","concentration":"Concentrated in ESA/European institutions and ArianeGroup; backlog €2,166M"},"returns_yearly":{"2021":-9.9,"2022":-4.7,"2023":-17.1,"2024":98.4,"2025":117,"2026":-10.8},"return_asof":"2026-07-10","value_chain":{"leading":[{"slug":"viasat","name":"바이어샛","name_en":"Viasat","tier":3,"returns_yearly":{"2021":36.4,"2022":-28.9,"2023":-11.7,"2024":-69.6,"2025":304.9,"2026":113.5}},{"slug":"datadog","name":"Datadog","name_en":"Datadog","tier":3,"returns_yearly":{"2021":80.9,"2022":-58.7,"2023":65.1,"2024":17.7,"2025":-4.8,"2026":89.4}},{"slug":"palo-alto-networks","name":"팔로알토 네트웍스","name_en":"Palo Alto Networks","tier":3,"returns_yearly":{"2021":56.7,"2022":-24.8,"2023":111.3,"2024":23.4,"2025":1.2,"2026":76.9}},{"slug":"crowdstrike","name":"CrowdStrike","name_en":"CrowdStrike","tier":3,"returns_yearly":{"2021":-3.3,"2022":-48.6,"2023":142.5,"2024":34,"2025":37,"2026":59.7}},{"slug":"illumina","name":"Illumina","name_en":"Illumina","tier":3,"returns_yearly":{"2021":2.8,"2022":-46.9,"2023":-31.1,"2024":-1.3,"2025":-1.8,"2026":45}},{"slug":"voyager-technologies","name":"보이저 테크놀로지스","name_en":"Voyager Technologies","tier":3,"returns_yearly":{"2026":19.2}},{"slug":"snowflake","name":"Snowflake","name_en":"Snowflake","tier":3,"returns_yearly":{"2021":20.4,"2022":-57.6,"2023":38.6,"2024":-22.4,"2025":42.1,"2026":19.2}},{"slug":"ses","name":"SES","name_en":"SES S.A.","tier":3,"returns_yearly":{"2021":2.8,"2022":10.6,"2023":-13,"2024":-36,"2025":141.5,"2026":15.8}},{"slug":"airbnb","name":"Airbnb Inc","name_en":"Airbnb Inc","tier":3,"returns_yearly":{"2022":-48.6,"2023":59.2,"2024":-3.5,"2025":3.3,"2026":9.5}},{"slug":"eutelsat","name":"유텔샛","name_en":"Eutelsat Group","tier":3,"returns_yearly":{"2021":17.8,"2022":-30.7,"2023":-51.8,"2024":-48.9,"2025":32.1,"2026":3.2}},{"slug":"schrodinger","name":"Schrödinger","name_en":"Schrodinger","tier":3,"returns_yearly":{"2021":-56,"2022":-46.3,"2023":91.5,"2024":-46.1,"2025":-7.3,"2026":-7.8}},{"slug":"mercadolibre","name":"MercadoLibre","name_en":"MercadoLibre, Inc.","tier":3,"returns_yearly":{"2021":-19.5,"2022":-37.2,"2023":85.7,"2024":8.2,"2025":18.5,"2026":-8}},{"slug":"uber","name":"Uber","name_en":"Uber","tier":3,"returns_yearly":{"2021":-17.8,"2022":-41,"2023":149,"2024":-2,"2025":35.5,"2026":-8.8}},{"slug":"disney","name":"Disney","name_en":"The Walt Disney Company","tier":3,"returns_yearly":{"2021":-14.5,"2022":-43.9,"2023":4.3,"2024":24.4,"2025":3.3,"2026":-15.3}},{"slug":"coupang","name":"Coupang","name_en":"Coupang","tier":3,"returns_yearly":{"2022":-49.9,"2023":10.1,"2024":35.8,"2025":7.3,"2026":-20.3}},{"slug":"netflix","name":"Netflix","name_en":"Netflix","tier":3,"returns_yearly":{"2021":11.4,"2022":-51.1,"2023":65.1,"2024":83.1,"2025":5.2,"2026":-21.7}},{"slug":"anthropic","name":"Anthropic","name_en":"Anthropic","tier":3,"returns_yearly":null},{"slug":"amazon","name":"아마존","name_en":"Amazon","tier":2,"returns_yearly":{"2021":2.4,"2022":-49.6,"2023":80.9,"2024":44.4,"2025":5.2,"2026":6.3}},{"slug":"textron","name":"텍스트론","name_en":"Textron","tier":2,"returns_yearly":{"2021":59.9,"2022":-8.2,"2023":13.7,"2024":-4.8,"2025":14.1,"2026":4.3}},{"slug":"airbus","name":"에어버스","name_en":"Airbus","tier":2,"returns_yearly":{"2021":34.8,"2022":3.9,"2023":30.5,"2024":15,"2025":18.3,"2026":3.9}},{"slug":"boeing","name":"보잉","name_en":"Boeing","tier":2,"returns_yearly":{"2021":-6,"2022":-5.4,"2023":36.8,"2024":-32.1,"2025":22.7,"2026":2.4}},{"slug":"leonardo","name":"Leonardo","name_en":"Leonardo S.p.A.","tier":2,"returns_yearly":{"2021":11.3,"2022":50.3,"2023":73.6,"2024":89.1,"2025":88.1,"2026":-6.8}},{"slug":"rtx","name":"RTX","name_en":"RTX","tier":1,"returns_yearly":{"2021":23.3,"2022":20,"2023":-14.4,"2024":40.8,"2025":61.4,"2026":7.6}},{"slug":"arianegroup","name":"아리안그룹","name_en":"ArianeGroup","tier":1,"returns_yearly":null}],"benefiting":[{"slug":"arianegroup","name":"아리안그룹","name_en":"ArianeGroup","tier":1,"returns_yearly":null},{"slug":"airbus","name":"에어버스","name_en":"Airbus","tier":2,"returns_yearly":{"2021":34.8,"2022":3.9,"2023":30.5,"2024":15,"2025":18.3,"2026":3.9}},{"slug":"voyager-technologies","name":"보이저 테크놀로지스","name_en":"Voyager Technologies","tier":3,"returns_yearly":{"2026":19.2}},{"slug":"ge-aerospace","name":"GE 에어로스페이스","name_en":"GE Aerospace","tier":3,"returns_yearly":{"2021":9.7,"2022":-10.9,"2023":95.7,"2024":64.8,"2025":85.7,"2026":17}},{"slug":"rtx","name":"RTX","name_en":"RTX","tier":3,"returns_yearly":{"2021":23.3,"2022":20,"2023":-14.4,"2024":40.8,"2025":61.4,"2026":7.6}},{"slug":"toray-industries","name":"도레이","name_en":"Toray Industries","tier":3,"returns_yearly":{"2021":8.3,"2022":12.5,"2023":-4.8,"2024":49.2,"2025":7.5,"2026":1.3}},{"slug":"leonardo","name":"Leonardo","name_en":"Leonardo S.p.A.","tier":3,"returns_yearly":{"2021":11.3,"2022":50.3,"2023":73.6,"2024":89.1,"2025":88.1,"2026":-6.8}},{"slug":"thales","name":"Thales","name_en":"Thales","tier":3,"returns_yearly":{"2021":12.5,"2022":52.5,"2023":14,"2024":17.8,"2025":66.6,"2026":-11.6}},{"slug":"kai","name":"한국항공우주산업 (KAI)","name_en":"Korea Aerospace Industries","tier":3,"returns_yearly":{"2021":15.4,"2022":34.6,"2023":7,"2024":5.5,"2025":217.9,"2026":-14}}],"analysis":"Vega C 소형발사체의 프라임이자 Ariane 6의 P120C/P160C 고체 부스터를 만드는 이탈리아 추진 기업으로, 2025년부터 Vega 상업화 권한을 Arianespace에서 넘겨받아 발사 서비스까지 직접 판다. FY2025 매출 5억4,170만 유로(+22.7%)·수주잔고 21억6,600만 유로 사상 최대의 동력은 ESA 기관 프로그램(Vega C 생산)과 ArianeGroup향 부스터(2억 유로+, 2029년까지)이고, MBDA·RTX향 고체모터로 방산 축(연 2.5억 유로+)이 붙었다. 특히 RTX와의 미국 SRM 공장 MoU와 버지니아 신공장(약 5억 달러)은 유럽 밖 방산으로의 확장 트리거다. 그래프상 상류는 유로프로퓔시옹 JV·ArianeGroup 노즐이고, 하류는 ESA·ArianeGroup·MBDA·RTX로, 발사체와 방산 양쪽에 걸친 이원 성장 구조다.","analysis_en":"The Italian propulsion company that is prime for the Vega C small launcher and builds the P120C/P160C solid boosters for Ariane 6, and from 2025 sells launch services directly after taking Vega commercialization from Arianespace. Its record FY2025 revenue of EUR 541.7M (+22.7%) and EUR 2,166M backlog are driven by ESA institutional programs (Vega C production) and the ArianeGroup booster contract (EUR 200M+, through 2029), with a defense axis (EUR 250M+/yr) added via MBDA and RTX solid motors. In particular, the RTX US SRM-plant MoU and the ~$500M Virginia plant are triggers for expansion into defense beyond Europe. Upstream on the graph are the Europropulsion JV and ArianeGroup nozzles; downstream are ESA, ArianeGroup, MBDA and RTX — a dual growth structure spanning launchers and defense.","analysis_asof":"2026-07-10"},"edges":[{"direction":"revenue","counterparty":"ArianeGroup","counterparty_slug":"arianegroup","confidence":"high","metric":{"type":"contract_value","unit":"EUR million (초과)","as_of":"2025-11-17","basis":"Ariane 6 P120C/P160C 부스터 안정화 생산 계약(Avio 몫)","value":200,"period":"~2029","basis_en":"Ariane 6 P120C/P160C stabilized production contract (Avio share)"},"note":"Ariane 6 안정화 생산 단계용 P120C/P160C 고체 부스터 공급 계약을 ArianeGroup과 체결(Avio 몫 €200M 초과, 2029년까지). ArianeGroup은 Avio의 부스터 매출처.","note_en":"Avio supplies P120C/P160C solid boosters for Ariane 6's stabilized production phase under a contract with ArianeGroup (over €200M for Avio, through 2029); ArianeGroup is a booster revenue customer for Avio.","sources":[{"stance":"confirms","publisher":"아비오","publisher_en":"Avio","kind":"ir","lang":"en","published_at":"2025-11-17","url":"https://www.avio.com/press-release/avio-and-arianegroup-sign-contract-ariane-6-stabilized-production-phase-valued-over","title":"아비오·아리안그룹, 아리안 6 안정 생산기 계약(2억 유로+)","title_en":"Avio and ArianeGroup sign Ariane 6 stabilized production contract valued over 200M EUR","excerpt":"The contract secures the production of the P160C for the next years up to 2029 and is an important milestone for Ariane 6.","excerpt_en":"The contract secures the production of the P160C for the next years up to 2029 and is an important milestone for Ariane 6."}]},{"direction":"revenue","counterparty":"ESA·유럽 기관 (Vega)","counterparty_slug":null,"confidence":"high","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"ESA·유럽 정부가 Vega C 개발·발사 및 기관 발사의 주 고객. FY2025 매출 성장(+22.7%)의 핵심 동인이 Vega C 생산 활동이며 수주잔고 €2,166M 대부분이 유럽 기관 프로그램 기반. 개별 계약 금액 비공개.","note_en":"ESA and European governments are the primary customers for Vega C development/launch and institutional missions; Vega C production activity is a core driver of FY2025 revenue growth (+22.7%) and most of the €2,166M backlog is institutional. Contract-level value not disclosed.","sources":[{"stance":"confirms","publisher":"Avio S.p.A.","publisher_en":"Avio S.p.A.","kind":"filing","lang":"en","published_at":"2026-03-12","url":"https://www.avio.com/press-release/fy-2025-results-record-high-order-backlog-and-revenues-growth-path-continue-2026","title":"FY 2025 Results — Record-high order backlog and revenues growth path to continue in 2026","title_en":"FY 2025 Results — Record-high order backlog and revenues growth path to continue in 2026","excerpt":"Net Revenues, amounting to EUR 542 million ... scored a +23% growth compared to 2024, driven by Vega C production activities, P120C/P160C booster production for Ariane 6, as well as to the growth in the defense business.","excerpt_en":"Net Revenues, amounting to EUR 542 million ... scored a +23% growth compared to 2024, driven by Vega C production activities, P120C/P160C booster production for Ariane 6, as well as to the growth in the defense business."},{"stance":"mentions","publisher":"European Space Agency","publisher_en":"European Space Agency","kind":"news","lang":"en","published_at":"2024-07-05","url":"https://www.esa.int/Enabling_Support/Space_Transportation/Vega/ESA_Council_decisions_set_the_stage_for_more_diverse_European_launch_services","title":"ESA Council decisions set the stage for more diverse European launch services","title_en":"ESA Council decisions set the stage for more diverse European launch services","excerpt":"Arianespace will remain the launch service provider and operator for Vega and Vega-C launch services until Vega flight 29 (VV29), scheduled for the fourth quarter of 2025.","excerpt_en":"Arianespace will remain the launch service provider and operator for Vega and Vega-C launch services until Vega flight 29 (VV29), scheduled for the fourth quarter of 2025."}]},{"direction":"revenue","counterparty":"아리안그룹","counterparty_slug":"arianegroup","confidence":"high","metric":null,"note":"아리안 6 고체 부스터 P120C·P160C는 아리안그룹·아비오 50:50 합작 유로프로퓔시옹이 통합 공급, 모터는 콜레페로 아비오 공장 제작. 2025년 11월 2029년까지 안정 생산기 계약(아비오 몫 2억 유로+). 아비오는 뷜캥 엔진용 산소 터보펌프도 공급.","note_en":"Ariane 6's P120C/P160C solid boosters are integrated by Europropulsion, the 50:50 ArianeGroup-Avio JV, with motors built at Avio's Colleferro plant. A Nov 2025 stabilised-production contract runs to 2029 (EUR 200M+ for Avio), which also supplies Vulcain oxygen turbopumps.","sources":[{"stance":"confirms","publisher":"유럽우주국","publisher_en":"European Space Agency","kind":"ir","lang":"en","published_at":"2025-11-21","url":"https://www.esa.int/Enabling_Support/Space_Transportation/Ariane/Ariane_6_made_in_Italy","title":"아리안 6, 메이드 인 이탈리아","title_en":"Ariane 6 - made in Italy","excerpt":"유로프로퓔시옹이 P120C·P160C 고체모터를 개발하며 콜레페로의 아비오 시설에서 제작된다.","excerpt_en":"Europropulsion develops the P120C and P160C solid motors, manufactured at Avio's Colleferro facility."},{"stance":"confirms","publisher":"아비오","publisher_en":"Avio","kind":"ir","lang":"en","published_at":"2025-11-17","url":"https://www.avio.com/press-release/avio-and-arianegroup-sign-contract-ariane-6-stabilized-production-phase-valued-over","title":"아비오·아리안그룹, 아리안 6 안정 생산기 계약(2억 유로+)","title_en":"Avio and ArianeGroup sign Ariane 6 stabilized production contract valued over 200M EUR","excerpt":"2029년까지 P120/P160 부스터와 산소 터보펌프 생산을 커버, 아비오 수주액 2억 유로 초과.","excerpt_en":"Covers production of P120/P160 boosters and oxygen turbopumps to 2029; order intake for Avio exceeds EUR 200M."}]},{"direction":"revenue","counterparty":"MBDA","counterparty_slug":null,"confidence":"mid","metric":{"type":"contract_value","unit":"EUR million (초과)","as_of":"2026-06-22","basis":"Aster 30 고체모터·공력면 생산 오더","value":35,"period":"4년","basis_en":"Aster 30 solid motor and aero-surface production order"},"note":"국방 고체 로켓 모터 매출처. MBDA와의 프레임워크 하에 Aster 30 시스템용 고체 추진 모터·공력면 공급 생산 오더 체결(총액 €35M 초과, 4년). CAMM-ER 미사일 모터도 Avio가 설계·개발·인증.","note_en":"Defense solid rocket motor customer. Under a framework with MBDA, Avio signed a production order for solid-propellant motors and aerodynamic surfaces for the Aster 30 system (over €35M, four years); Avio also designed/qualified the CAMM-ER missile motor.","sources":[{"stance":"confirms","publisher":"Economia dello Spazio","publisher_en":"Economia dello Spazio","kind":"news","lang":"it","published_at":"2026-06-22","url":"https://www.economiadellospazio.it/aster-30-avio-ordine-mbda","title":"ASTER 30: Avio firma con MBDA un ordine da oltre 35 milioni","title_en":"ASTER 30: Avio signs order with MBDA worth over 35 million","excerpt":"La fornitura comprende motori a razzo a propellente solido e superfici aerodinamiche.","excerpt_en":"The supply comprises solid-propellant rocket motors and aerodynamic surfaces."}]},{"direction":"investor","counterparty":"Leonardo","counterparty_slug":"leonardo","confidence":"mid","metric":{"type":"ownership_stake","unit":"%","as_of":"2025-11-11","basis":"Leonardo shareholding in Avio","value":19.3,"basis_en":"Leonardo shareholding in Avio"},"note":"레오나르도가 Avio 지분 19.30%를 보유한 최대주주(2025년 10~11월 증자 과정에서 기존 28.75%에서 축소).","note_en":"Leonardo is Avio's largest shareholder with a 19.30% stake (reduced from the original 28.75% through the Oct–Nov 2025 capital increase).","sources":[{"stance":"confirms","publisher":"Leonardo","publisher_en":"Leonardo","kind":"ir","lang":"en","published_at":"2025-11-11","url":"https://www.leonardo.com/en/press-release-detail/-/detail/11-11-2025-leonardo-subscription-to-avio-s-capital-increase-completed","title":"Leonardo: subscription to Avio's capital increase completed","title_en":"Leonardo: subscription to Avio's capital increase completed","excerpt":"Leonardo의 Avio 지분이 기존 28.75%에서 19.30%로 조정됨(자본증자 청약 완료).","excerpt_en":"Leonardo's shareholding in Avio now stands at 19.30%, down from the original 28.75%."}]},{"direction":"cost","counterparty":"ArianeGroup (노즐)","counterparty_slug":"arianegroup","confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"P120C/P160C 공동개발에서 Avio는 탄소섬유 케이싱을, ArianeGroup은 노즐(복합재)을 제작. 즉 Vega C 1단 모터 관점에서 ArianeGroup의 노즐은 Avio의 비용 투입(부품 공급) 항목. 금액 비공개.","note_en":"In the jointly-developed P120C/P160C, Avio builds the carbon-fibre casing while ArianeGroup builds the composite nozzle; for the Vega C first-stage motor the ArianeGroup nozzle is a component cost input to Avio. Value not disclosed.","sources":[{"stance":"confirms","publisher":"ArianeGroup (press release)","publisher_en":"ArianeGroup (press release)","kind":"news","lang":"en","published_at":"2018-07-16","url":"https://www.ariane.group/en/news/successful-first-test-firing-for-the-p120c-solid-rocket-motor-for-ariane-6-and-vega-c/","title":"P120C 고체모터: Avio 케이싱·ArianeGroup 노즐(Europropulsion JV)","title_en":"P120C solid rocket motor: Avio casing, ArianeGroup nozzle (Europropulsion JV)","excerpt":"P120C/P160C 고체모터는 ArianeGroup·Avio의 50:50 JV Europropulsion이 공동개발 — Avio가 탄소섬유 케이싱을, ArianeGroup이 복합재 노즐을 제작. Ariane 6 부스터·Vega C 1단에 사용.","excerpt_en":"The P120C/P160C solid motor is co-developed by ArianeGroup and Avio via their 50:50 JV Europropulsion — Avio builds the carbon-fibre casing and ArianeGroup builds the composite nozzle; used on Ariane 6 boosters and the Vega C first stage."}]},{"direction":"cost","counterparty":"Europropulsion (JV)","counterparty_slug":null,"confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"ArianeGroup과 Avio가 각 50% 보유한 30년 이상 된 JV. P120C/P160C 고체모터의 통합·공급을 담당하는 비용/공급 구조로, Avio는 JV를 통해 부스터 통합 비용을 분담. 금액 비공개.","note_en":"A 30+ year 50:50 JV equally owned by ArianeGroup and Avio that integrates and supplies P120C/P160C solid motors; Avio bears booster-integration costs through the JV structure. Value not disclosed.","sources":[{"stance":"confirms","publisher":"아비오","publisher_en":"Avio","kind":"ir","lang":"en","published_at":"2025-11-17","url":"https://www.avio.com/press-release/avio-and-arianegroup-sign-contract-ariane-6-stabilized-production-phase-valued-over","title":"아비오·아리안그룹, 아리안 6 안정 생산기 계약(2억 유로+)","title_en":"Avio and ArianeGroup sign Ariane 6 stabilized production contract valued over 200M EUR","excerpt":"Europropulsion, equally co-owned by ArianeGroup and Avio, will supply P160C solid rocket motors for Ariane 6's stabilized exploitation phase.","excerpt_en":"Europropulsion, equally co-owned by ArianeGroup and Avio, will supply P160C solid rocket motors for Ariane 6's stabilized exploitation phase."}]},{"direction":"revenue","counterparty":"RTX","counterparty_slug":"rtx","confidence":"mid","metric":{"as_of":"2025-11-10","qualifier":"partnership_development_contract"},"note":"레이시온(RTX)과 국방용 고체로켓모터(SRM) 개발계약(2024-07) 및 美 신규 SRM 생산시설 설립 MoU(2025-11). RTX가 신설 생산능력 우선 접근권 확보.","note_en":"Development contract with RTX's Raytheon for defense solid rocket motors (Jul 2024) and an MoU to establish a new U.S. SRM facility (Nov 2025); Raytheon gets preferred access to the new capacity.","sources":[{"stance":"confirms","publisher":"RTX","publisher_en":"RTX","kind":"ir","lang":"en","published_at":"2025-11-10","url":"https://www.rtx.com/news/news-center/2025/11/10/rtxs-raytheon-avio-sign-mou-to-establish-new-solid-rocket-motor-facility-in-the","title":"RTX's Raytheon, Avio sign MoU to establish new solid rocket motor facility in the U.S.","title_en":"RTX's Raytheon, Avio sign MoU to establish new solid rocket motor facility in the U.S.","excerpt":"RTX's Raytheon, Avio sign MoU to establish new solid rocket motor facility in the U.S.","excerpt_en":"RTX's Raytheon, Avio sign MoU to establish new solid rocket motor facility in the U.S."},{"stance":"confirms","publisher":"RTX","publisher_en":"RTX","kind":"ir","lang":"en","published_at":"2024-07-23","url":"https://www.rtx.com/news/news-center/2024/07/23/rtxs-raytheon-partners-with-avio-to-build-a-more-resilient-u-s-defense-industri","title":"RTX's Raytheon partners with AVIO to build a more resilient U.S. Defense Industrial Base for solid rocket motor production","title_en":"RTX's Raytheon partners with AVIO to build a more resilient U.S. Defense Industrial Base for solid rocket motor production","excerpt":"Raytheon, an RTX business, signed a contract with Avio (AVIO.MI)... to initiate and progress the development of critical solid rocket motors for defense applications.","excerpt_en":"Raytheon, an RTX business, signed a contract with Avio (AVIO.MI) to initiate and progress the development of critical solid rocket motors for defense applications."}]},{"direction":"revenue","counterparty":"Arianespace","counterparty_slug":"arianegroup","confidence":"mid","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"과거 Vega/Vega C의 상업 발사 서비스 제공자(발사 판매) 관계. 2024.8 ESA 결정으로 2025년부터 상업화 권한이 Avio로 이전되며, Arianespace는 VV29(2025 4분기)까지만 발사 운영, 관계가 축소·이전됨. 개별 금액 비공개.","note_en":"Historically the commercial launch-service provider for Vega/Vega C; following the Aug-2024 ESA decision, commercialization transfers to Avio from 2025 and Arianespace operates only through VV29 (Q4 2025), a diminishing/transitioning relationship. Value not disclosed.","sources":[{"stance":"confirms","publisher":"Space Intel Report","publisher_en":"Space Intel Report","kind":"news","lang":"en","published_at":"2025-07-11","url":"https://www.spaceintelreport.com/avio-to-take-over-vega-commercial-sales-from-arianespace-in-late-2025-4-small-launchers-get-formal-access-to-europes-spaceport/","title":"Avio to take over Vega commercial sales from Arianespace in late 2025","title_en":"Avio to take over Vega commercial sales from Arianespace in late 2025","excerpt":"Avio to take over Vega commercial sales from Arianespace in late 2025; 4 small launchers get formal access to Europe's spaceport.","excerpt_en":"Avio to take over Vega commercial sales from Arianespace in late 2025; 4 small launchers get formal access to Europe's spaceport."}]}]}