Leonardo shatters air defence records with next-gen interception tech

Leonardo Stock: Record Interception Achieved

Teaser Leonardo reports record range for its new defense system and announces a strategic alliance for lunar communications. JPMorgan raises the price target to €63.

December 12, 2025, 10:56 AM UTC

Less than two weeks after the official launch of the Michelangelo Security Dome, Leonardo has reached a technological milestone. In tests, the Italian defense group achieved the longest interception range ever recorded for the land-based Eurosam SAMP/T system. Meanwhile, the company announced a strategic partnership for lunar communications—just as JPMorgan raised its price target to €63.

Behind the Record-Breaking Test

On December 3, 2025, Leonardo demonstrated the capabilities of its new air defense system. A SAMP/T NG missile (Surface-to-Air Missile Platform/Terrain – New Generation), guided by the KRONOS Grand Mobile high-power radar, intercepted a target at an unprecedented distance.

The radar employs cutting-edge C-band AESA (Active Electronically Scanned Array) technology with gallium nitride modules, boosting range by over 30% compared to previous systems. Key performance figures:

• Defense mode range: ~250 kilometers
• Air surveillance range: ~300 kilometers
• Altitude coverage: ~30,000 meters

Designed as a modular, scalable multi-domain system, the Michelangelo Security Dome aims to protect critical infrastructure against modern threats such as hypersonic weapons, drone swarms, and coordinated missile attacks. Leonardo plans to deliver an initial version, codenamed "Dead Zone," to Italy's Ministry of Defense by late 2027.

Lunar Mission Partnership

On December 11, Leonardo and Telespazio signed a cooperation agreement with U.S.-based Intuitive Machines to develop compatible communications and navigation infrastructure on the Moon.

The collaboration links Telespazio'sEuropean Lunar Communication and Navigation System (LCNS)—part of ESA's Moonlight program—with Intuitive Machines'Space Data Network (SDN), which manages NASA's Near Space Network Services.

The partnership will focus on: - Developing LCNS-SDN interoperability solutions - Coordinating commercial strategies - Designing compatible end-user devices

Analyst Outlook and Growth Prospects

On December 10, JPMorgan reaffirmed its "Overweight" rating and raised the price target from €58 to €63, implying ~38% upside. The average 12-month consensus target stands at €55.72, with estimates ranging from €40 to €65.

In the first nine months of 2025, Leonardo's order intake surged 24.3% to €18.2 billion, while revenue climbed 12.4% to €13.4 billion. The order backlog hit record levels, driven by major projects like the Kuwait Air Force program and the Global Combat Air Programme (GCAP).

Full-year 2025 results are expected in early March 2026. With the Michelangelo project advancing faster than planned and rising European defense spending, Leonardo remains on a growth trajectory.