Leonardo SpA: Market Performance and Strategic Development in the Aerospace and Defense Sector
Leonardo SpA, listed on the Borsa Italiana Electronic Share Market, trades in euros with a current close of €50.82 on 20 October 2025. The share price has risen 3.07 % in the session on 22 October 2025, contributing to a sustained upward trend in the Italian aerospace and defense segment. This performance is reflected in the weekly analysis of the FTSE MIB, where Leonardo’s share price shows a positive trajectory against its peers.
Joint‑Venture with Airbus and Thales in the Satellite Market
Financial Times reports that Leonardo, Airbus, and Thales are advancing toward a merger of their space activities, forming a joint‑venture company tentatively named Project Bromo. The venture is valued at approximately €10 billion and will be headquartered in France. Ownership structure is proposed as follows:
| Stakeholder | Proposed % |
|---|---|
| Airbus | 35 % |
| Thales | 32.5 % |
| Leonardo | 32.5 % |
Airbus is expected to receive compensation from Thales and Leonardo to limit its equity stake to 35 %, despite its division generating roughly half of its total revenue. The partnership aligns the three firms’ satellite and space systems capabilities, potentially enhancing their competitive position in the global market.
Impact on Investor Sentiment and Market Dynamics
The announcement of the joint‑venture has coincided with a broader positive sentiment in the aerospace sector. In Frankfurt, Paris, and Rome, Airbus shares reached a record high of over €208 per share, while the German engine manufacturer MTU saw a 2.5 % increase, lifting the DAX to a new peak. European investors reacted favorably to Leonardo’s involvement in the satellite joint‑venture, anticipating future revenue growth and expanded market reach.
In the United States, aerospace and defense stocks such as GE Aerospace, RTX Corporation, and Lockheed Martin also experienced pre‑market gains, driven by strong operational performance and upward revisions of annual targets. These developments underscore a general market optimism toward the defense and space industries, benefiting Leonardo’s valuation and investor outlook.
Financial Profile
- Market Capitalization: €29.37 billion
- Price‑to‑Earnings Ratio: 29.541
- 52‑Week High: €56.68 (2 October 2025)
- 52‑Week Low: €21.37 (29 October 2024)
Leonardo’s broad portfolio—helicopters, aircraft, aerostructures, airborne and space systems, land and naval defense electronics, and defense systems—provides a diversified revenue base. The company’s ongoing strategic initiatives, including the satellite joint‑venture, are expected to reinforce its position within the European and global aerospace and defense markets.
All figures and events are reported as of 22 October 2025 and are based on publicly available information.
