Italian aerospace and defence group Leonardo has unveiled an ambitious plan to enhance its operational capacity and profitability by the end of the decade. This strategic initiative, covering the years 2026 to 2030, aims to elevate annual orders to €32 billion, a significant rise from the projected €23.8 billion in 2025. Simultaneously, revenues are set to increase to €30 billion, up from €19.5 billion in the same timeframe.
The updated industrial strategy outlines a projection for earnings before interest, tax, and amortisation (EBITA) to reach €3.59 billion by 2030, compared to an estimated €1.75 billion in 2025. Free operating cash flow is also expected to grow, aiming for €2.06 billion during this period. Over the five-year span, Leonardo anticipates cumulative orders of around €142 billion and revenues of €126 billion, reflecting compound annual growth rates of approximately 6.1 percent and 9 percent, respectively.
Strategic Transition and Technological Advancements
This shift follows the completion of Leonardo’s transition into a unified “One Company” structure, which integrates its operations across various domains including land, sea, air, space, and cyber activities. Roberto Cingolani, Chief Executive Officer and General Manager of Leonardo, highlighted the firm’s commitment to innovation, stating, “We have successfully met all the targets set out in our first Industrial Plan, exceeding all expectations. We now have platforms across every domain, and we have invested heavily in digital technologies, AI, and cybersecurity.”
A cornerstone of this strategy is the development of the “Michelangelo Dome,” a multi-domain architecture designed to amalgamate capabilities across diverse environments. This advanced system employs artificial intelligence, high-performance computing, and data fusion technologies to create a modular framework capable of addressing emerging threats such as ballistic missiles and drone swarms. Leonardo estimates that the Michelangelo initiative could generate up to €21 billion in potential business opportunities over the next decade.
Workforce Expansion and Market Positioning
Leonardo’s strategy also includes plans for substantial workforce growth. The company expects to increase its headcount from approximately 62,700 employees in 2025 to around 75,500 employees by 2030. This expansion will involve recruiting around 28,000 people, with an emphasis on attracting younger talent and those skilled in STEM fields.
In addition, the firm plans to implement a “disciplined capital allocation” policy that aims to support organic growth and potential acquisitions while enhancing shareholder returns. Leonardo anticipates raising its dividend by 21 percent in 2026 and maintaining this upward trend throughout the duration of the plan.
Leonardo’s latest strategy positions it to navigate a rapidly evolving security landscape, characterized by an increase in drone usage, cyber threats, and hypersonic weaponry. The firm’s approach is designed to respond to the growing global investment in security technologies, securing its role as a high-tech player in global security.
