Macron spoke at the Paris Air Show in Le Bourget outside the French capital a day after France more than doubled its stake in satellite operator Eutelsat, the EU rival to Elon Musk's Starlink.
Macron called for more investment as the European space industry struggles to remain competitive in the face of US and Chinese rivals.
"SpaceX has disrupted the market, Amazon is also getting involved. China is not far behind, and I think we all need to be very clear-headed," Macron said.
Europe must become "a space power once again, with France at its heart", he said.
He warned that Europeans were "on the verge of being completely" squeezed out of the low Earth orbit (LEO) satellite constellation market.
Orbiting just a few hundred kilometres above the Earth, low Earth orbit satellite networks can play a crucial role in various fields including telecommunications, emergency response, space exploration, and defence.
Growing geopolitical tensions have forced countries to focus on the independence of their satellite infrastructure.
Macron said France and its partners should not be reliant on non-European constellations in low orbit, calling it "madness".
He called non-European players to team up with France.
"This must be the solution for our major strategic partners in the Gulf, India, Canada and Brazil," he said.
"We really need to succeed in increasing our collective investment effort," Macron added, noting the importance of private investors and public-private collaboration.
He also said France planned to organise a space summit in early 2026 to "mobilise our public and private partners across the globe."
As part of the overall deal with other investors worth 1.35 billion euros ($1.5 billion), the French state is set to become Eutelsat's largest shareholder.
The European satellite operator is vying to be seen as an alternative to Starlink, as companies in Europe and elsewhere look askance at Musk's manoeuvrings and seek to secure sovereign solutions.
Boasting more than 600 satellites since merging with British firm OneWeb in 2023, Eutelsat is the world's second-largest operator of low Earth orbit satellites, behind Starlink.
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