Founded in 1983, QinetiQ Space’s developments in the field of small satellites, spacecraft system integrations and instrumentation for scientific research are among the world’s finest aerospace innovations. Its customers include the European Space Agency (ESA) and the larger European space integrators. The space company, located in the town of Kruibeke in Flanders, recorded a revenue of EUR 49 million and a net profit of EUR 3 million for the past year. In addition to that, it had a contracted backlog of EUR 113 million for core space-related products at the end of March 2022.
The company has been part of the commercial satellite systems division of the British QinetiQ Group since 2005. Now, this defense technology and security organization is selling the Flanders-based space innovator to Redwire, a consolidator of space infrastructure from the US – which will be paying a total of EUR 32 million for the acquisition.