Calepin des entreprises international 2026 VA.pdf — page 208

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Business trends
	
 Thales revenues reached €20.6 billion in 2024, up 11.7% year-on-year. The Defence division recorded a 13.9% 
increase in revenue, driven by land and air systems. Revenues in the Aerospace division increased by 4.8%, 
thanks to the positive performance of aeronautics activities and sustained demand in the avionics market 
(original equipment and after-sales services). However, the space segment suffered from a decline in demand 
for geostationary telecommunications satellites.
	
 In April 2025, KNDS Deutschland, KNDS France, Rheinmetall and Thales established a temporary consortium, 
each with a 25% stake, to develop the future MGCS (Main Ground Combat System) main battle tank, which is 
expected to be operational in 2045. Known as MGCS Project Company, this consortium is based in Cologne 
(Germany).
	
 Thales and Tawazun Council signed an agreement in May 2025 for the production of advanced Ground Master 
series air surveillance radars in the United Arab Emirates. Operational by 2027, the factory will assemble, test 
and qualify radars to meet the needs of the domestic and export markets.
Home market
	
 Thales is a key industrial partner of Dassault Aviation (Rafale fighter aircraft, future Falcon Archange intelligence 
aircraft, etc.), Naval Group (FDI and FREMM frigates, etc.) and KNDS (Scorpion programme, future MGCS 
main battle tank, etc.).
	
 In March 2025, the French Integrated Structure for the MRO of Land Equipment (SIMMT) notified the ABSOLU 
contract (End-to-end adaptation of operational support and standardised logistics for Thales land systems). 
This 10-year contract brings together some 30 maintenance contracts for Thales land equipment and 
simulation resources for the French Armed Forces.
	
 In early 2025, the group launched series production of the Ground Fire surveillance and air defence radar. 
Designed for the new SAMP/T NG system, the radar has a range of 400 km and 360° panoramic coverage 
with 90° elevation. Eight of these radars will be supplied to the French Armed Forces from 2026 onwards.
Export markets
	
 Thales generated 71% of its revenues from exports in 2024.		
	
 As part of the Franco-British MMCM (Maritime Mine Counter Measures) project, the group delivered the 
first autonomous maritime mine clearance system to the Royal Navy in March 2025. The solution includes 
autonomous, cyber-secure drones equipped with artificial intelligence modules. 
	
 In April 2025, Thales won a contract to upgrade the TACTIS (Tactical Indoor Simulator) training centre for 
armoured vehicles of the Royal Netherlands Army. The contract covers the simulation of more than 20 new 
types of vehicles, including the CV9035NL tracked infantry fighting vehicle and the future Leopard 2 A8 main 
battle tank.	
	
	
	
 Thales won two contracts in spring 2025 to supply Ground Master 400 Alpha long-range air surveillance 
radars: two units to Malaysia and one to Albania.
Technology and Innovation
	
 The group’s self-financed R&D expenditure amounted to €1,274 million in 2024, representing 6.2% of revenues.
	
 Coordinated by Thales and bringing together 26 entities from 13 EU countries and Norway, the FMBTech 
project was launched in April 2025. Funded by the European Defence Fund, this three-year project aims to 
design battle tanks adapted to the new conditions of hybrid warfare.
	
 At the Paris Air Show in June 2025, Thales and KNDS France unveiled the 40mm RAPIDFire Terre cannon, a 
land variant of the RAPIDFire Naval designed specifically for the protection of sensitive sites.
STRATEGIC HIGHLIGHTS
THALES