Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious Outperformance
Find Stocks Now

Italy's Leonardo wants stronger role in GCAP jet fighter project

Published 03/10/2023, 12:22
Updated 03/10/2023, 12:26
© Reuters. FILE PHOTO: A concept model of the Global Combat Air Programme (GCAP)'s fighter jet is displayed at the DSEI Japan defense show at Makuhari Messe in Chiba, east of Tokyo, Japan March 15, 2023. REUTERS/Kim Kyung-Hoon/File Photo

By Angelo Amante

ROME (Reuters) - Italy's Leonardo group wants a bigger role in a next-generation fighter jet program to put it on an equal footing with its British and Japanese partners, company CEO Roberto Cingolani said on Tuesday.

The three nations agreed in December 2022 to collaborate to build an advanced front-line fighter to enter service around the middle of the next decade. The Global Combat Air Programme (GCAP) has Britain's BAE Systems (LON:BAES) and Japan's Mitsubishi Heavy Industries as its lead contractors.

"We have a very strong arsenal from a technical point of view ... our position needs to be revised upwards," Cingolani told reporters at a cyber tech event in Rome.

"We believe we now have much more advanced skills in certain areas. We want to put them on the table and compete as equals with British and Japanese partners," he added.

GCAP is expected to cost tens of billions of dollars but the parties have not yet finalised how the budget will be split.

Sources told Reuters in March that Britain and Japan were set to dominate the GCAP project, with Rome set to pay around only a fifth of the overall development cost.

In September, Italy's defence ministry said it will be an equal partner in the program and dismissed the report as speculative.

Cingolani, a physicist and former energy minister who took over at Leonardo in May, said GCAP partners were working intensively on the project, with several meetings scheduled in October. He said he would travel to Japan next month.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

The design and function is still unclear as negotiations have made little progress, said Cingolani, but it will involve the jet controlling several drones.

"There will be a flying super-computer provided with artificial intelligence that has to control let's say 30-40 drones," he told reporters.

Cingolani confirmed that Leonardo's new industrial plan, due to be presented in March 2024, would focus more heavily on cybersecurity and space, as the two main pillars of innovation for the company.

"Then there is the conventional core business of aircraft, helicopters and electronics, which will have to be strengthened with artificial intelligence and digitalisation," he said.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.