Leonardo is ready for the launch of the space platform

Lorenzo Mariani, who took the reins of Leonardo succeeding Roberto Cingolani, expects European regulatory approval for the Italia defence player’s satellite joint venture with Airbus and Thales by the end of next year, paving the way for one of Europe’s most ambitious defence and space projects. The so-called Bromo Project aims to unify regional space operations that have failed to keep pace with Elon Musk’s SpaceX, the US giant set to go public this week with a valuation of around $1.8 trillion. “Bromo really is the future of space in Europe in business terms,” Mariani said in an interview with Bloomberg. Leonardo’s CEO sought to distinguish the European project from comparisons with SpaceX, stating that Bromo will cover a wide range of space segments. The European project has met with resistance from trade unions and suppliers who have expressed concerns about jobs and competition. It will be one of the first to test a revamped EU regulatory framework on mergers, aimed at promoting the creation of regional champions to better compete with US and Chinese rivals. Although the political and antitrust hurdles are considered ‘complex’, Mariani said he expects all European authorisations for the Bromo Project to be in place by the second half of 2027, adding that trade unions are coming to understand the importance of the agreement. “Everyone knows we are dealing with a sector that is evolving very rapidly,” he added. “So we have to do something, and that something is definitely joining forces, in a smart way.”

Mariani, 61, a veteran of Leonardo who recently headed the Italian division of its missile manufacturing joint venture, MBDA Missile Systems Services, is charting a course that places European collaboration in space and defence at the top of the agenda, whilst strengthening ties with the United States. The new CEO has stated that he intends to continue many of the initiatives of his predecessor, Roberto Cingolani, whilst accelerating progress in other areas.

Mariani, who confirmed the guidance for 2026, also stated that he would welcome Germany into the Global Combat Air Programme (GCAP) led by Italia, the UK and Japan, but warned that bringing a new partner into the next-generation fighter project could jeopardise plans to deliver an operational aircraft on schedule. ‘Having Germany as a full member of the team would be a good thing’ both from an industrial perspective and in terms of cost-sharing, “but if you really want to have something flying” as early as 2035, “it would be disruptive,” he added, “to have another partner able to join at this stage.” Germany and France withdrew this week from the €100 billion Future Combat Air System project, a competitor to the GCAP, potentially paving the way for Leonardo and its partners to consolidate their position. However, Mariani warned that the governments promoting the GCAP could face a choice between expanding participation and safeguarding the programme’s timetable, given the complex negotiations required to establish governance, responsibilities and the division of industrial work. Having up to four distinct sixth-generation fighter aircraft in Europe — the GCAP, the successor to Dassault’s Rafale, a potential German-led effort and a Swedish extension of Saab’s Gripen — would be “truly challenging”, Mariani said. “It would be better to find something that does not pit one against the other, but which combats the real threats, in terms of markets that are not located in Europe.”

Whilst remaining committed to strengthening the European defence industry, Mariani stated that he would seek to capitalise on Leonardo’s unique position, through its US unit Leonardo DRS, to draw on capabilities in areas such as air defence and artificial intelligence from both sides of the Atlantic. Collaboration between Leonardo’s US and European divisions could be improved, he said, specifically citing the Michelangelo air defence initiative as an area where Leonardo could benefit from closer cooperation with its US operations. Separately, Leonardo is in talks regarding a joint venture with the Saudi Public Investment Fund involving the company’s aerostructures division, long one of Leonardo’s most challenging operations. Talks between Leonardo and its Middle Eastern partner are progressing, Mariani said, with an initial agreement expected by the end of this year. “The aim is to create new growth opportunities,” he said, “whilst preserving and strengthening the industrial skills and capabilities developed in Italia over decades.”