GMV's space business grows by 30%

2019 has been a red-letter year for the space business of the technology multinational GMV. Its turnover, topping 140 million euros for a total 245 million euros group revenue, is nearly 30% up on the previous year.

These figures confirm that its space business is still booming, multiplying its turnover by a factor of 2.5 since 2015, fueling a continual influx of new recruits into team GMV. Indeed, from the job-generation point of view, GMV is Europe’s sixth best-performing industrial space group behind only Airbus, Thales, Ariane, Leonardo and OHB.

This growth has also been across-the-board throughout the whole space business, with rates varying from 15% to 40%, and in most of the countries where the company runs space activities. Within GMV’s European group Spain leads the pack; Germany holds on to second place, while sharp growth rates are also being recorded by our businesses in France, Portugal, Romania and the UK.

In the words of Jorge Potti, GMV’s general space manager, “2019 was a resounding success for GMV’s space business. These all-time high productivity rates, built up on the strength of the excellent work of our whole staff, speak for the thoroughgoingness of our business approach in this area. ESA’s Council at Ministerial Level, held in late December, was another considerable boost to the sector, so we confidently expect this growth to continue into the future”.

Some of the main operations that have enabled us to record these figures are the contract for Galileo’s Ground Control Segment (GSC), GMV’s biggest ever contract; GMV’s leadership of Galileo’s future ground segment and leading role too in many Galileo centers (Service Centre, Reference Centre, Search & Rescue, TGVF and Commercial Service). Worthy of note too are projects such as our PRS developments (Public Regulated Service), the operational SBAS demonstrator, installed in Australia and New Zealand, and the high-precision products with integrity, including those carried out for the new generation of BMW’s autonomous vehicles.