Italian defence and aerospace group Leonardo secured orders worth €60.4 billion in the first nine months of 2026, marking a 28% increase on the same period last year and taking its order intake above €60 billion for the first time.
The company said revenues also increased across all its main business sectors, reflecting stronger demand for defence equipment, aerospace technology and related services. The results were approved by Leonardo’s board of directors on Wednesday and announced in a statement on Thursday.
Lorenzo Mariani, Leonardo’s chief executive and general manager, said the performance reflected the group’s financial position, commercial activities, broad product range and expanding production capacity.
He said the company was working to improve its industrial capabilities so it could convert its growing order backlog into higher production and faster deliveries, responding to demand in the current international market.
The expansion of Leonardo’s order book was partly driven by its acquisition of Iveco Group’s Defence division, completed in March. The transaction contributed approximately €6 billion to the increase in orders and strengthened Leonardo’s position in the defence sector.
Partnerships and major programmes
Leonardo is pursuing a strategy centred on defence, aerospace, drones, digital technologies and industrial partnerships. Mariani identified the Global Combat Air Programme (GCAP), which is developing a next-generation fighter aircraft, as one of the projects supporting the group’s longer-term plans.
The company is also working with Germany’s Rheinmetall on military vehicles and has a partnership with Turkish drone manufacturer Baykar. Both collaborations are intended to expand its presence in defence platforms and unmanned systems.
In the space sector, Leonardo is working with Airbus and Thales on plans to establish a European operator. The group is also developing its Michelangelo Dome technology, which is intended to strengthen defence and security capabilities.
Mariani said the integration and digitalisation of platforms, industrial alliances and targeted acquisitions would help Leonardo respond to changes in the international aerospace and defence industry.
The company aims to strengthen its role as governments increase attention to military readiness, advanced technology and the security of critical infrastructure.
Focus on production capacity
Leonardo’s growing order book presents an opportunity but also places pressure on its ability to manufacture equipment and meet delivery schedules. The company said expanding production capacity remains a priority as it works to fulfil existing contracts and secure further business.
Leonardo is listed on the Italian stock exchange, with the Italian state holding a stake through the Ministry of Economy and Finance. Its latest results underline the importance of defence and aerospace demand to the group’s expansion, while its partnerships and acquisitions are intended to broaden its industrial capabilities.
