Italian defence and aerospace group Leonardo expects revenues to rise to around 18.6 billion euros ($20.3 billion) this year, the company said in a statement on Tuesday. The company, which published preliminary 2024 results last month,

The Italian defense firm's projection is driven by new joint ventures, organic growth and huge rises in defense spending in Europe.

Italy's Leonardo on Tuesday nudged up its revenue and order guidance for this year, boosted by a strong order backlog and as it sees its core business of defence electronics and helicopters growing further.