Leonardo
Overview
A diversified aerospace, defence and security prime with a space division that includes joint ventures Thales Alenia Space (33% Leonardo stake) and Telespazio (67% Leonardo stake), alongside its core helicopter, aircraft, electronics and defence-systems businesses.
Moat: Italy's largest aerospace and defence group, majority state-influenced (Italian government holds a significant minority stake), with space exposure spanning both a satellite-manufacturing joint venture (Thales Alenia Space) and a satellite-services joint venture (Telespazio) — a dual position few European primes replicate.
Business
Primary customers
- Defense: Italian Ministry of Defence
- Government: European Space Agency (via Thales Alenia Space / Telespazio)
Sectors
defense-systems · satellite-manufacturing · space-systems-engineering · aerospace
Key Products
- Thales Alenia Space (33% stake)operational
Satellite manufacturing joint venture with Thales, building institutional and commercial spacecraft.
- Telespazio (67% stake)operational
Satellite-services joint venture with Thales, spanning Earth observation, navigation and space engineering services.
Near-term Catalysts
- not before H2 2027 — reported, pre-filing, not closed
Potential Project Bromo restructuring
A proposed combination of Airbus, Thales and Leonardo space assets would materially restructure Leonardo's space-sector holdings.
Top Risks
- Governance and strategic uncertainty tied to the proposed Project Bromo restructuring of European space assets, pending EU regulatory review.
- Financial and leadership figures for the space-specific business segment are not independently broken out from the wider Leonardo group.
Recent Milestones
- 2026
Lorenzo Mariani appointed Chief Executive Officer and General Manager; Francesco Macrì appointed Chairman
- 2017-01-01
Company officially renamed from Finmeccanica to Leonardo
What investors should know
Q1What was Leonardo previously called?⌄
Q2Who leads Leonardo?⌄
Q3What is Leonardo's space business?⌄
Q4Is Leonardo publicly traded?⌄
Q5What is Project Bromo?⌄
Peers
Compare side-by-side →Sources & References
Press Release
- Leonardo — Board of Directors composition · 2026-07-27
Programs this company benefits from
Government and commercial space programs where Leonardo is listed as a contractor, beneficiary, or investable equity exposure.
Explore More
Where Leonardo takes you next
JUICE (Jupiter Icy Moons Explorer)
A program they're on
The full story
Italy's Space Renaissance: Thales Alenia, Telespazio, and a Nation Building Europe's Future in Orbit (Part 2)
The full story
Airbus Defence and Space
A comparable company
Telespazio
A comparable company
A comparable company
Thales Alenia Space
A comparable company