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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. 

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.

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