Leonardo DRS Expands in Naval Power—Is Asia the Next Multibillion-Dollar Frontier?

Leonardo DRS, in its third quarter fiscal year 2025 performance, displayed resilience and robust growth trends that highlight both the opportunities and challenges faced by the company. The company reported strong bookings and backlog figures, aligning closely with evolving customer priorities, particularly in areas such as counter unmanned aerial systems (UAS), advanced infrared sensing, naval network computing, and electric power and propulsion technologies. Bookings for the quarter reached $1.3 billion, contributing to a book-to-bill ratio of 1.4x, with the total backlog elevating to $8.9 billion, an 8% year-over-year increase. On the financial performance front, Leonardo DRS achieved double-digit growth across various metrics, enhancing visibility towards the year’s end. Revenue for the third quarter saw an 18% increase, reaching $960 million.