Italian aerospace and defence group Leonardo has agreed to acquire the defence division of Iveco Group -encompassing the Idv and Astra brands - for €1.6 billion, in a move aimed at creating a major European player in land defence.

The deal strengthens Leonardo’s industrial capabilities and positions the company to compete more effectively on a global scale in a segment expected to see significant growth in the coming years. CEO Roberto Cingolani welcomed the acquisition, saying it enhances Leonardo’s role as a key player in land defence and adds crucial expertise in integrated platform production, combining mobility and payload technologies.

The transaction also aligns with Leonardo’s updated industrial plan through 2030, which places a strong emphasis on cybersecurity, high-performance computing and artificial intelligence as core drivers of future growth. The group now forecasts cumulative orders of €142 billion by the end of the decade, with an average annual growth rate of 6.1%, and total revenues of €126 billion, rising at an average of 9% per year.