Leonardo Completes €1.6 Billion Acquisition; AeroVironment Faces Mixed Financial Outlook

AeroVironment secured $135 million in US Army contracts but reported a significant operational loss due to goodwill impairment. Meanwhile, Leonardo finalized its €1.6 billion acquisition of Iveco Group's defense division, enhancing its integrated solutions for land forces. Hensoldt reported a backlog exceeding three times its revenue, while Red Cat achieved a 1,985% revenue increase in Q4 2025 but lacked 2026 forecasts. DroneShield announced a new EU production facility to support counter-UAS efforts.

Published Mar 24, 2026

AeroVironment received $135 million in US Army contracts while reporting a $179 million operational loss due to a goodwill write-down linked to halted satellite communications projects. The company also acquired Empirical Systems Aerospace for $200 million, raising its backlog to $1.1 billion.

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Conversely, Leonardo completed its €1.6 billion purchase of Iveco's defense unit, aiming to integrate vehicle platforms with its systems. Hensoldt's backlog surged 62% to €4.71 billion but revenue only grew by 10%, prompting expansion plans. Red Cat's Q4 revenue jumped 1,985% to $26.2 million but lacked 2026 forecasts, leading to stock sell-off concerns.