If Europe knows how to send payloads into orbit, it does not yet fully control their return. Behind this asymmetry lies a structural dependence in the spatial value chain. The issue concerns the capacity of a continent to control the entire space cycle, not only access to orbit, but also the recovery of what is produced or captured there.
An incomplete sovereignty
For a decade, European investments have focused on access to space: launchers, constellations, orbital infrastructures. This strategy has produced tangible results, but it remains partial because the value no longer lies solely in sending payloads. It moves towards what comes back: data, materials, experiences, sensitive components.
However, in this segment, Europe remains dependent on non-European players, first and foremost SpaceX, whose capsules today provide most of the operational returns. This dependence de facto limits sovereignty over certain critical applications, particularly industrial and security.
Orbital return, a new industrial frontier
Return from orbit is changing status. Long considered a secondary technical function, it is becoming an infrastructure in its own right.
This evolution can be explained by three converging dynamics:
- the rise of microgravity research, particularly in biotechnologies and advanced materials
- the emergence of on-orbit manufacturing, with production cycles requiring regular returns
- the multiplication of dual uses, civil and military, involving secure flows of data and equipment
In this context, the absence of autonomous European capacity creates a break in continuity in the space logistics chain.
ATMOS, or the attempt to close the loop
Founded in 2021, ATMOS Space Cargo develops reusable capsules capable of transporting and returning payloads from low Earth orbit. The company took a first step in 2025 with the PHOENIX 1 demonstration flight, which made it possible to validate its atmospheric reentry systems in real conditions.
With PHOENIX 2, it changes scale, the objective is no longer to demonstrate, but to operate. Three vehicles will be deployed in a campaign aimed at establishing an initial operational cadence and structuring a recurring service offering.
The technological choice is at the heart of this ambition. The capsules rely on an inflatable atmospheric decelerator (IAD), which performs the function of both a heat shield and an aerodynamic brake. This approach makes it possible to reduce mass, improve reusability and limit environmental impact, while maintaining precise control of re-entry.
This positioning also aims to make orbital return more frequent, more flexible and more economical, in other words, to transform it into a service.
Towards a European orbital supply chain
Beyond technology, an industrial logic is emerging. ATMOS is not positioned as a simple supplier, but as an infrastructure operator.
The company is already part of an ecosystem in formation, notably through its partnership with Space Cargo Unlimited, which aims to offer a complete service combining operations in orbit and return to Earth.
An industry still in formation
There remains one uncertainty: that of the market itself. Although use cases are increasing, demand is still in the structuring phase. The viability of the model will depend on the ability to establish a rhythm, to pool missions and to attract clients beyond just public actors.
ATMOS Space Cargo, created by Sebastian Klaus, in 2021 and based in Lichtenau (Germany) and Strasbourg (France), develops reusable transport and orbital return capsules for industrial, scientific and defense applications.
The company announces a new fundraising of 25.7 million euros in Series A from Balnord and Expansion (co-leads), with the participation of Keen Defense and Security, as well as European investors including OTB Ventures, High-Tech Gründerfonds, APEX Ventures, Seraphim, Faber, E2MC, Kirch Ventures, Lennertz & Co., Mätch VC, MBG Baden-Württemberg and Tech Horizons. The European Innovation Council intervenes through its Accelerator program combining grant and equity investment.
