Leonardo’s goal of increasing revenue from €2029 billion to €17,8 billion by 30 through new joint ventures, organic growth and increased defense spending in Europe reflects the company’s confidence in its future major projects. The Italy-based defense company’s CEO Roberto Cingolani said that the increase in European defense budgets, especially following Russia’s invasion of Ukraine, could significantly increase Leonardo’s orders from Italy and Europe. This would translate into additional revenues of up to €6 billion per year.
According to information provided by Cingolani, Leonardo will equip Baykar platforms with sensors and electronics through its joint venture with Turkish drone manufacturer Baykar and expects to earn 2029 million euros from this project by 600. In addition, a new joint venture with German Rheinmetall to produce new tanks and armored vehicles for the Italian army is targeting 1 billion euros in revenue.
Leonardo is also working on the sixth-generation fighter jet program GCAP, which is expected to cost 2035 billion euros by 40, in collaboration with the UK, Japan and Italy. In addition, a search for a partner for the Boeing 787 aerostructures unit in southern Italy is ongoing and there is speculation about the possibility of Saudi Arabia's involvement in the project.
The acquisitions the company will make to strengthen its space and cybersecurity activities reinforce its goal of transforming Leonardo from a defense company to a “global security” company. In addition, new military and civilian satellites to be launched between 2027 and 2028 will be an important step towards this goal.
