European defense companies should step up collaboration to fix 'fragmented' sector, Leonardo CEO tells CNBC

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European defense companies must take a stronger lead on collaborating to help the continent become independent of the U.S. security umbrella, Leonardo

’s CEO told CNBC.

Speaking with CNBC’s “Squawk Box Europe” on Wednesday after Leonardo’s annual results statement, Roberto Cingolani said European defense companies have “all the capabilities and technical skills” and should not wait for governments to fix the sector, which he warned was “fragmented.”

Companies should take the lead in a process of “aggregation”, which European governments would follow, he said, adding that this approach “pays a lot” and helps enable companies to become “better, faster, more profitable.”