Leonardo DRS, Inc.

Leonardo DRS' THOR Named 2026 AUSA Best New Product

Leonardo DRS' THOR tactical-edge computing chassis won the AUSA National Partner Award for Best New Product/Service. THOR is a 3U VPX open-architecture computing chassis for combat vehicles, supporting AI and multi-sensor data fusion at the tactical edge and compliant with SOSA and MOSA standards. Introduced in March 2026, THOR is sold as a configurable chassis kit or integrated DRS solution; the award is a credibility signal but carries no disclosed financial impact.

•3d ago

UPDATE -- Leonardo DRS Selected by AV for U.S. Army’s Enduring-High Energy Laser Production Program

Leonardo DRS announced it was selected by AeroVironment as a subcontractor providing power management, thermal, and vehicle-integration expertise for the U.S. Army's Enduring-High Energy Laser production program. The subcontract supports AV's production of its 30-kilowatt, platform-agnostic LOCUST X3 laser weapon systems, following the Army's September 2026 production award to AV — the service's first high-energy laser production contract. For AVAV, the news confirms its E-HEL production effort is advancing with an experienced integration partner, though no new contract value or financial terms were disclosed.

•6d ago

Leonardo DRS Selected by AV for U.S. Army’s Enduring-High Energy Laser Production Program

Leonardo DRS announced it was selected by AeroVironment to provide rugged integration expertise for the U.S. Army's Enduring-High Energy Laser (E-HEL) production program. DRS will supply power management and environmental-control integration supporting AV's production of the 30-kilowatt LOXUST X3 laser weapon system, designed for platforms including the Army's Joint Light Tactical Vehicle. For AeroVironment, the release is third-party confirmation that its E-HEL production effort, awarded by the Army in September 2026 as the service's first high-energy laser production contract, is moving forward with established defense suppliers.

•6d ago

Leonardo DRS Announces Financial Results for Third Quarter 2026

Leonardo DRS posted Q3 2026 revenue of $1.07 billion, up 11% year-over-year, with net earnings of $115 million up 60% and diluted EPS of $0.43 up 65%. Bookings hit $1.6 billion for a 1.5x book-to-bill — the strongest since going public — and record funded backlog reached $5.6 billion, up 21%. The company raised full-year 2026 guidance across revenue ($3,950M-$3,985M), Adjusted EBITDA ($545M-$555M) and Adjusted Diluted EPS ($1.50-$1.53), and declared a $0.09 dividend. Growth was led by tactical radars, naval power and propulsion, and space sensing; FCF of $61 million was lower than prior year on working capital investment.

•11d ago

Leonardo DRS Expands Federal Access to Mission-Critical Technologies Through NASA SEWP VI

Leonardo DRS won a 10-year prime contract under NASA's SEWP VI program, giving federal agencies a streamlined path to buy DRS products and services through 2036. DRS has been a SEWP prime contractor since 2015, listing 368 contract line items in its SEWP V catalog, with more than $110 million procured by agencies to date and an 'Excellent' NASA performance rating in January 2026. The ordering period opens Nov. 1, 2026; the award is an IDIQ vehicle with no committed contract value, so the financial impact is incremental rather than immediate.

•25d ago

Leonardo DRS Awarded JIATF-401 IDIQ Contract to Accelerate Delivery of Tactical Expeditionary Sensing Capabilities for Critical Counter UAS Mission

Leonardo DRS won a $500 million ceiling IDIQ contract from Joint Interagency Task Force 401 with a three-year period of performance, focused on rapid fielding of counter-UAS sensing capabilities. The award does not guarantee revenue; DRS will compete for individual task orders supporting force protection and low-altitude air defense missions. The win strengthens DRS's positioning in the fast-growing counter-drone segment, where its RADA business unit supplies combat-proven expeditionary radar systems.

•26d ago

Leonardo DRS Selected to Advance Next-Generation Uncooled Thermal Infrared Sensing for U.S. Army DUTCH Initiative

Leonardo DRS was selected by the U.S. Army DEVCOM C5ISR Center for the DUTCH initiative to advance next-generation uncooled thermal infrared sensing for defense applications. Under the award, DRS will demonstrate high-definition, high-frame-rate uncooled thermal camera cores with potential uses across UAS, counter-UAS, seekers, weapon sights, night vision and ground-vehicle sensing. No contract value was disclosed; the win signals growing Army demand for DRS's IR sensing portfolio, which the company supports via dual-site production facilities in Dallas and Melbourne, Florida.

•26d ago

Leonardo DRS Strengthens Dismounted Soldier Modernization With $63 Million FWS-I Production Order

Leonardo DRS received a $63 million production order from the U.S. Army for its FWS-I thermal weapon sight system, placed under an existing IDIQ contract. FWS-I wirelessly integrates with soldier-worn devices like the ENVG-B goggle and the Army's IVAS, letting soldiers view thermal imagery through helmet-mounted displays for faster target acquisition. The award extends DRS's long-standing EO/IR relationship with the Army and adds to backlog, though its size is routine relative to the company's broader defense portfolio.

•27d ago

Leonardo DRS Launches cxMHR, a Fully Digital C-Band Radar for Integrated Air and Missile Defense

Leonardo DRS launched the cxMHR, a fully digital, software-defined C-band AESA radar for integrated air and missile defense, and confirmed initial production has begun. The containerized, single-vehicle system provides 360-degree hemispheric coverage, detecting threats beyond 90 km against drones and beyond 330 km against transport aircraft. The launch is being showcased at the AUSA 2026 Annual Meeting through October 14, positioning DRS in the fast-growing counter-UAS and IAMD market.

•28d ago

Leonardo DRS Completes Training and Delivery of INOD Block III Thermal Weapon Sights for the Australian Army

Leonardo DRS completed final training and delivery of INOD Block III thermal weapon sights to the Australian Army under the LAND 159 Tranche 1 program. The clip-on sight gives snipers and special operations forces thermal targeting in low-light and degraded conditions, using a 640x480 mid-wave infrared focal plane array. The milestone aligns Australian forces with the same sight generation fielded by U.S. Army Special Operations Forces, reinforcing DRS's role as a key thermal-sighting supplier to allied militaries, though no contract value was disclosed.

•1mo ago

Leonardo DRS Establishes UK Subsidiary and Launches Local Capabilities for its Tactical Radars including Full Manufacturing

Leonardo DRS established DRS UK, a new subsidiary supporting its UK business, and launched local production of tactical radars at a purpose-built site. The radars address counter-UAS, air defence, force protection and active protection missions, with more than 10,000 radar panels already deployed worldwide with U.S. forces, NATO allies and international customers. The UK operation will serve as the strategic hub for the tactical radar business in the UK and Europe, positioning DRS for future export growth, though no investment amount or revenue figures were disclosed.

•1mo ago

Leonardo DRS to Provide Electric Propulsion System for the Republic of Korea Navy Next-Generation KDDX Destroyer Program

Leonardo DRS won a contract from Doosan Enerbility to supply the electric propulsion system for the Republic of Korea Navy's KDDX destroyer program, whose lead ship is being built by Hanwha Ocean. The KDDX class is expected to deliver at least six next-generation guided-missile destroyers and will introduce South Korea's first full-electric-drive surface combatants, a cornerstone of the country's future fleet. DRS will provide its power-dense 100-Series permanent magnet propulsion motors with matched compact variable frequency drives, covering the integrated power and propulsion system from prime movers to propellers. The award extends a decade-plus record supplying hybrid electric drive for 20 FFX Batch II/III/IV frigates; no contract value was disclosed.

•1mo ago

Leonardo DRS Extends Naval Aviation’s Communications Edge With $39.6 Million JTT-X Production Award

Leonardo DRS won a $39.6 million contract from Naval Air Systems Command for production and delivery of Joint Tactical Terminal Transceiver (JTT-X) units supporting the EA-18G Growler aircraft. The firm-fixed-price, cost-plus-fixed-fee award covers non-recurring engineering, production, aircraft integration, qualification, and production support, and backs the Navy's Global Lightning initiative for resilient communications in contested environments. JTT-X is a hybrid SATCOM terminal built on a modular open systems architecture spanning government and pLEO commercial pathways. The award is a modest backlog addition but reinforces DRS's entrenched position in secure naval aviation communications.

•1mo ago

Leonardo DRS Awarded $96 Million in Contracts to Provide Critical MK 41 Vertical Launching System Electronics Hardware

Leonardo DRS was awarded contracts totaling $96 million to supply critical electronics hardware for the MK 41 Vertical Launching System, the U.S. Navy's premier shipborne missile launching system, which is also fielded by 14 allied navies. The awards were issued July 22-23, 2026 as option modifications to multiple-year contracts, covering programmable power supplies, launch control units, and transformer platform systems. Work will be performed at DRS Naval Electronics facilities in Johnstown, Pennsylvania, and Largo, Florida. The win extends a program relationship of more than 15 years and reinforces DRS's entrenched position on a widely deployed naval launcher platform, though as option exercises on existing contracts it represents incremental backlog rather than new program business.

•1mo ago

Leonardo DRS Selected by United States Space Force to Advance Technology in support of advanced Space Superiority Solutions

Leonardo DRS secured an Other Transaction Agreement prototype contract from the U.S. Space Force to advance next-generation sensor technology for space superiority and national defense. The work focuses on developing affordable and scalable sensing systems to detect, track, and target fast-moving threats in challenging conditions. Management emphasized that the award validates the company's investment in space-based capabilities and its expertise in advanced sensing and manufacturing.

•2mo ago

Space42 and Leonardo DRS Sign MoU to Advance Next-Generation National Security Mission Systems

Leonardo DRS signed a Memorandum of Understanding with UAE-based Space42 to integrate its C5ISR mission systems with secure satellite connectivity. The agreement focuses on joint design and advanced mission capabilities to support sovereign national security operations in the UAE. While the MoU supports DRS's international expansion strategy, no specific financial terms or deal values were disclosed.

•2mo ago

Leonardo DRS Demonstrates Defeat of Group 1-2 Unmanned Aerial System Threats for Fielded SGT STOUT M-SHORAD

Leonardo DRS announced that its fielded SGT STOUT M-SHORAD system successfully defeated Group 1-2 unmanned aerial system threats during a U.S. Government test event. The enhanced capability was achieved solely through software updates to detection and fire control systems, demonstrating the platform's adaptability without requiring new hardware modifications. Several hundred SGT STOUT systems are currently fielded, providing a baseline for readiness and validating the modular, open-architecture design intended to support rapid modernization.

•2mo ago

Leonardo DRS Signs Agreement for New Brookfield, Connecticut, Facility to Support Growth of Naval Power Systems Business

Leonardo DRS signed an agreement for a new 141,087 square foot facility in Brookfield, Connecticut, to consolidate operations for its Naval Power Systems business. The move will bring together operations currently spread across three locations in Danbury and Bethel, with initial occupancy expected in early 2027. Management stated the investment is designed to strengthen throughput for U.S. Navy programs and position the company for growth in the broader nuclear energy landscape.

•3mo ago

Leonardo DRS Announces Financial Results for Second Quarter 2026

Leonardo DRS reported Q2 revenue of $913 million, up 10% year-over-year, with net earnings rising 59% to $86 million and adjusted diluted EPS increasing 52% to $0.35. The company raised its full-year 2026 guidance for Adjusted EBITDA to $525-$540 million and Adjusted EPS to $1.34-$1.39, supported by a record funded backlog of $5.1 billion and strong quarterly bookings of $1.1 billion. DRS also announced the $450 million acquisition of Raft to expand its AI and data fusion capabilities and declared a $0.09 per share cash dividend payable on August 27.

•3mo ago

Leonardo DRS to Acquire Raft, Expanding Multi-Domain AI, Data Fusion and Mission Software Capabilities

Leonardo DRS announced a definitive agreement to acquire Raft LLC for $450 million in cash to expand its multi-domain AI, data fusion and mission software capabilities. The transaction is expected to close in the fourth quarter of 2026 and be accretive to Adjusted Diluted EPS in the first full year, with DRS realizing a tax benefit valued at approximately $50 million. The company intends to fund the acquisition using cash on hand and borrowings under its revolving credit facility.

•3mo ago

Leonardo DRS Secures Contract for More Than 50,000 Tenum® Orbit™ Thermal Imaging Cameras

Leonardo DRS signed a contract to supply more than 50,000 Tenum Orbit thermal imaging cameras under a blanket purchase agreement, marking a major production milestone. The agreement addresses high-volume customer requirements for compact systems used in unmanned systems and other evolving platforms. Management noted that strategic investments in factory infrastructure support annual capacity in the hundreds of thousands of units to meet this demand.

•3mo ago

Leonardo DRS Launches Tenum® 640 Orbit™ Uncooled Thermal Drone Camera at SOF Week

Leonardo DRS launched the Tenum® 640 Orbit™, an uncooled long-wave infrared thermal camera module optimized for unmanned air, ground, and maritime platforms. The module features 640x512 resolution, 60 fps frame rate, and MIPI CSI compatibility, targeting high-volume OEM integration for Group 1-3 UAVs. The product was debuted at SOF Week in Tampa, positioning DRS to capture share in the expanding unmanned systems sensor market.

•5mo ago

Leonardo DRS Introduces Rugged 2kVA UPS for Mission-Critical Power Protection in Harsh Shipboard Environments

Leonardo DRS introduced a new 2 kVA AC Uninterruptible Power Supply designed to provide backup power for mission-critical electronics in harsh shipboard environments. The unit is IP54-hardened and military-qualified, with qualification testing covering EMI, shock, and vibration expected to complete this summer. This product aims to serve as a rugged, platform-ready solution for the U.S. Navy to help protect uptime and reduce program risk.

•6mo ago