Aerospace
Bremen Space Company Breaks EUR One Billion Mark
For the first time aerospace firm OHB, which is headquartered in the northern German city, has done ten-figures in business. It’s part of a trend.
May 10, 2024
The company announced its record turnover for 2023 in late April. OHB did EUR 1,047,800,000 in business last year compared with EUR 944.5 million in 2022.
OHB is family-owned and has been called “the German Space-X.” Its main activity is the construction of satellites. For instance, it built the telecommunications satellite “Heinrich Hertz” taken into space by the final Ariane 5 rocket last year. It is also a major part of the German Offshore Space Alliance, which aims to launch a rocket from the North Sea to space in the summer of 2024.
The German aerospace industry has nearly fully recovered from a contraction due to the coronavirus pandemic and was worth EUR 39 billion in 2022, the most recent year for which figures are currently available.
