Calepin des entreprises international 2026 VA.pdf — page 202

201
TELEDYNE TECHNOLOGIES
Business trends
	
 Teledyne revenues remained virtually stable in 2024 at $5.7 billion (€5.2 billion), up 0.6% year-on-year in local 
currency. The Digital Imaging division (-2.3%) recorded lower sales of X-ray products and unmanned ground 
vehicles. The Aerospace and Defense Electronics (+6.9%) and Instrumentation (+4.3%) divisions recorded 
sustained growth, while revenues in the Engineered Systems division remained stable (+0.3%).
	
 In February 2025, Teledyne completed the acquisition of certain businesses of Excelitas Technologies, 
including the UK-based optics segment Qioptiq and the U.S.-based advanced defence electronics business, 
for approximately $710 million (€656 million). Used for space and military applications, these businesses were 
renamed Teledyne Qioptiq and integrated into the Aerospace and Defense Electronics division.
	
 In July 2025, the group acquired the U.S. company Maretron (Octoplex, MPower and MConnect brands), 
which specialises in monitoring and control systems for recreational and commercial vessels. In October 
2025, Teledyne also completed the acquisition of Saab’s TransponderTech subsidiary, renamed Teledyne 
FLIR TransponderTech. Based in Sweden, the company provides communication and navigation solutions for 
maritime, air and space transport, with civil and military applications.
Home market
	
 The group generated 52% of its sales on the U.S. market in 2024. Sales to the U.S. Department of Defense, its 
largest customer, accounted for almost 20% of revenues.
	
 In September 2024, Teledyne Brown Engineering signed a contract with a ceiling value of $476 million 
(€440 million) with NASA to provide Earth observation data and related services. The subsidiary will use its 
MUSES (Multi-User System for Earth Sensing) platform, based on the International Space Station (ISS).
	
 In January 2025, Teledyne FLIR Defense signed a five-year contract worth up to $74.2 million 
(€68.6 million) with the U.S. Coast Guard to modernise more than 125 electro-optical systems (ESS-M) on MH-60 
Jayhawk and MH-65 Dolphin helicopters. In April 2025, the subsidiary also received a four-year, $74.2 million 
(€66.2 million) contract from the U.S. Army to upgrade the CBRN threat detection systems on the M1135 
Stryker armoured vehicle, including the supply of six prototypes and support services.
Export markets
	
 Teledyne generated 48% of its revenues from exports in 2024. The United Kingdom, China, Germany, Japan 
and France are the group’s main foreign markets and accounted for approximately 19% of total revenues. 
Most of the group’s revenues in these markets come from the civil sector.
	
 In February 2025, Germany’s Federal Office of Bundeswehr Equipment (BAAINBw) awarded Teledyne FLIR 
Defense a $15 milion (€14 million) contract to supply Black Hornet 4 nano-drones, spare parts and training 
services to the German Armed Forces.
	
 Teledyne Marine signed a framework agreement with the Swedish Defence Materiel Administration (FMV) 
in February 2025 to deliver Gavia autonomous underwater vehicles to the Swedish Armed Forces for mine 
countermeasures.
	
 Teledyne FLIR Defense won a $7.8 million (€7.2 million) contract from Saudi Arabia’s Middle East Task Company 
(METCO) in March 2025 to supply LVSS (Lightweight Vehicle Surveillance System) mobile surveillance 
systems to a Saudi military entity, along with support and training services.
Technology and Innovation
	
 Self-financed R&D expenditure amounted to $293 million (€270 million) in 2024, representing 5.2% of revenues.
	
 At the DSEI exhibition in London in September 2025, Teledyne FLIR Defense presented the SkyCarrier 
autonomous platform for launching and recovering aerial drones (in particular the group’s SkyRaider and 
SkyRanger UAS) from moving vehicles or ships.
STRATEGIC HIGHLIGHTS