Corporate mergers - Lifeline for the space industry

The world's major space companies have undergone continual evolution, through a process of mergers and acquisitions, since their creation from their aerospace parents. Although much of this evolution occurred in the early years of the Space Age, the process seems to have become particularly dynamic in the 1990s, as companies have striven to become ever more competitive in an increasingly global business environment. This article reviews some of the most important mergers and traces the recent development of the world's leading space contractors.