kamrulkonok/evalllm2026-french-defense huggingface dataset:
Calepin des entreprises international 2026 VA.pdf — page 144

143
MBDA
Long-range and deep strike
SCALP EG / STORM SHADOW 
air-launched cruise missiles
TAURUS air-launched cruise missile
MdCN naval cruise missile
EXOCET AM / MM / SM anti-ship missiles 
and mobile coastal defence systems
MARTE, MARTE ER and TESEO Italian anti-ship missiles
Tactical strike
ANL / Sea Venom lightweight anti-ship missile
BRIMSTONE and SPEAR Family air-to-ground missiles
Battlefield engagement
AKERON MP / LP anti-tank and air-land missiles
PARS 3 and ENFORCER anti-tank missiles
Maritime protection / Armed Forces protection
Sea Ceptor, Land Ceptor, CAMM and CAMM-ER 
air defence systems
ASTER and SAMP/T NG air defence systems
VL MICA / VL MICA NG air defence system
MISTRAL (MANPADS, SIMBAD and SIMBAD-RC) 
air defence systems
SKYWARDEN anti-drone system
Air dominance
METEOR beyond-visual-range air-to-air missile
MICA / MICA NG (EM, IR) medium-range 
air-to-air missiles
ASRAAM short-range air-to-air missile
DDM NG missile warning system
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
CerbAir
Thales
Safran
Avio
Leonardo
Diehl Defence
Hensoldt
Saab
PGZ
Indra Sistemas
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145
MTU AERO ENGINES
REVENUE BY REGION (%)
	 Germany
	 North America
	 Asia
	 Europe  
	
(excl. Germany)
	 Rest of the World
REVENUE BY BUSINESS SEGMENT (%)*
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
4,188
5,330
5,363
7,411
∆ (%)
5.31%
27.27%
0.62%
38.19%
Defence (%)*
11%
9%
10%
8%
Export (%)
85%
86%
87%
90%
Operating 
profit/loss
355
508
-161
955
Operating 
margin
8.48%
9.53%
-3.00%
12.89%
Net income**
222   
331
-102
633
Order book
22,237   
22,273
24,393
28,573
Employees
10,508   
11,273
12,170
12,892
Name
%
Country
EUMET
50%
Germany
EURA
50%
France
Turbo-Union
39.98%
Germany
EuroJet Turbo
33%
Germany
EuroProp International
28%
Germany
International Aero Engines
25.25%
Switzerland
MTU Turbomeca 
Rolls-Royce ITP
25%
Germany
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE (as of 10.10.2025)
Major shareholders (as of 10.10.2025)
BlackRock Investment Management 
(UK) Ltd.
7.73%
Viking Global Investors LP
3.05%
Kenneth C Griffin
3.03%
DWS Investment GmbH
3.00%
Symbol
MTX
Listed on
XETRA
Market Cap (€m)
20,722
Chairman 
of the Supervisory Board
Gordon Riske
Chief Executive Officer
Johannes Bussmann
Chief Program Officer
Ottmar Pfänder
GOVERNANCE
BUSINESS AREAS
Engine manufacturer and equipment supplier
	
 Aircraft propulsion parts and subsystems
	
 Equipment and components
	
 Engine and gas turbines MRO
*Military engines division only
**Net income attributable to shareholders
70
23
8
7
5
4
14
Aircraft engine manufacturer specialised in the production of aeronautical propulsion parts 
and subsystems and a major player in aeronautical maintenance	
67
10
5
6
9
70
	 Commercial MRO
	 Commercial engines
	 Military engines
	 Other
*Revenue distribution based on total sales excluding eliminations
2
Calepin des entreprises international 2026 VA.pdf — page 147

146
Fighter aircraft engine parts
Future NEFE (Next European Fighter Engine, 
FCAS programme)
EJ200 (Eurofighter Typhoon)*
F414 (F/A-18E/F, EA-18G, JAS-39 Gripen E/F, 
Tejas Mk II, KF-21)
F110 (F-16C/D, F-16E/F, F-15, F-15EX)
Transport aircraft engine parts
TP400-D6 (A400M)
PW2000 (C-17)
V2500 (C-390)
Helicopter turbine parts
Futur ENGHE (European Next Generation 
Helicopter Engine)
T408 (CH-53K)
MTR390-E (Tigre)
Gas turbine parts
LM6000
LM2500 series
MRO and spare parts
Larzac 04 engine (Alpha Jet)
CF6-50C2 engine (KC-10)
RB199 engine (Tornado)
T64 turbine (CH-53G)
MTU AERO ENGINES
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
Avio Aero**
ITP Aero
Rolls-Royce
Safran
GKN Aerospace
Pratt & Whitney***
*Parts and assembly of  engines for German and Austrian aircraft **Subsidiary of  GE Aerospace ***RTX group 
****Japanese Aero Engine Corporation, consortium between IHI Corporation, Kawasaki Heavy Industries and Mitsubishi Heavy ndustries
GE Aerospace
JAEC****
Calepin des entreprises international 2026 VA.pdf — page 149

148
NAMMO
REVENUE BY REGION (%)
REVENUE BY BUSINESS SEGMENT (%)
N / A
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
687
738
804
935
∆ (%) [NOK]*
15.61%
6.79%
23.34%
18.30%
Defence (%)
79%
77%
81%
80%
Export (%)**
69%
70%
73%
74%
Operating 
profit/loss
66
73
92
113
Operating 
margin
9.67%
9.88%
11.47%
12.07%
Net income***
45   
50
53
77
Order book
1,028   
1,410
2,259
3,374
Employees
2,648   
2,679
2,925
3,280
Name
%
Country
Sintef Raufoss 
Manufacturing
14%
Norway
Nordic Additive 
Manufacturing
12%
Norway
Komm-In
8%
Norway
Raufoss Industripark 
Holding
2%
Norway
ARGE DiNa 155mm
N/A
Germany
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE
Major shareholders (as of 10.10.2025)
Norwegian State
50%
Patria
50%
Symbol
Listed on
Unlisted group
Market Cap
Chairman
Dag Schjerven
Chief Executive Officer
Morten Brandtzæg
President, 
Aerospace Propulsion
Stein Erik Nodeland
GOVERNANCE
BUSINESS AREAS
Ammunition provider and systems integrator/
equipment supplier
	
 Ammunition (all calibre)
	
 Weapon systems (shoulder fired systems, 
warheads and fuzes)
	
 Explosives and pyrotechnics (hand grenades, 
initiation systems)
	
 Propulsion systems (solid rocket motors and 
boosters for tactical missiles, hybrid rockets)
	
 Demilitarisation and services 
(conventional ammunition)
*Variation based on revenue in Norwegian kroner
   See €/NOK, p.9
**Revenue excluding Norway / Sweden / Finland
***Net income attributable to shareholders
37
	 Norway / Sweden / 	
	
Finland
	 Rest of Europe
	 North America
	 Asia
	 Rest of the World
30
29
2
Ammunition provider equally controlled by the Norwegian State (50%) and Finnish defence 
company Patria (50%), and 97th-largest defence contractor worldwide	
3
26
41
28
Calepin des entreprises international 2026 VA.pdf — page 150

149
Ammunition
Small calibre ammunition 
(4.6mm to 12.7mm)
Medium calibre ammunition 
(20mm to 57mm)
Large calibre ammunition 
(120mm and 155mm)
Mortar rounds (81mm and 120mm)
Weapon systems
Shoulder-fired systems (M72 LAW, 
M141 BDM and Mk 153 SMAW)
Ammunition for shoulder-fired systems 
(42mm, 66mm and 83mm)
Explosives and pyrotechnics
Hand grenades 
(fragmentation and smoke grenades)
Hystrix grenade launch system
Initiation systems
Propulsion systems
Solid propellant rocket motors for missiles 
(AIM-120 AMRAAM, RIM-162 ESSM, 
IRIS-T/IRIS-T SLM)
Auxiliary boost rocket motors 
(Exocet MM40, NSM)
A6 DR_SR separation rocket motors 
(Ariane 6 launcher)
Hybrid rocket motors
Altair air-launched system (demonstrator)
Demilitarisation and services
Demilitarisation and thermal treatment
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
General Dynamics
RTX
ArianeGroup
Avio
Bertin Technologies
Thales
Kongsberg
Diehl Defence
MBDA
PGZ
Boeing
Saab
NAMMO
Calepin des entreprises international 2026 VA.pdf — page 152

151
NAVAL GROUP
	 France
 
	 Export markets
REVENUE BY REGION (%)
REVENUE BY BUSINESS SEGMENT (%)
Name
%
Country
MO Porte-Avions
65%
France
Naviris
50%
Italy
Kership
45%
France
Itaguaí Construções Navais
41%
Brazil
Boustead DCNS Naval 
Corporation
40%
Malaysia
TechnicAtome
20.32%
France
Chantiers de l'Atlantique
12%
France
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE
Major shareholders (as of 31.12.2024)
French State
62.25%
Thales
35.00%
FCPE Actionnariat Naval Group
1.64%
Treasury shares
1.09%
Symbol
Listed on
Unlisted group
Market Cap
Chairman and CEO
Pierre Éric Pommellet
Executive VP, Surface Ships
Vincent Martinot-
Lagarde
Executive VP, Submarines
Laurent Espinasse
Executive VP, Services
Éric Balufin
GOVERNANCE
BUSINESS AREAS
Platform manufacturer and systems integrator
	
 Surface ships
	
 Submarines (conventionally 
and nuclear-powered)
	
 Autonomous systems (USVs, UUVs)
	
 Underwater weapons
	
 Naval combat and platform systems 
and equipment
	
 Maintenance, modernisation 
and related services for naval bases
	
 Civil nuclear energy
*Net income attributable to shareholders
63
37
Leading French and European military shipbuilding company with a solid export activity 
in first-class frigates and submarines, ranked 32nd-largest defence contractor
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
4,053
4,353
4,257
4,355
∆ (%) 
22.8%
7.40%
-2.20%
2.28%
Defence (%)
≈ 95%
≈ 95%
≈ 95%
≈ 95%
Export (%) 
27%
37%
30%
29%
Operating 
profit/loss
294
427
296
298
Operating 
margin
7.25%
9.81%
6.95%
6.84%
Net income*
197
339
261
266
Order book
14,069  
15,277
14,363
18,126
Employees
16,028  
16,029
16,325
16,722
71
29
	 Services
	 Surface ships
	 Submarines
	 Other
39
29
28
4
Calepin des entreprises international 2026 VA.pdf — page 153

152
Surface ships
PA-NG future new generation aircraft carrier
FREMM ASW / FREMM AAW multipurpose frigate
FDI/Belharra defence and intervention frigate
MMPC future European corvette 
(Modular and Multirole Patrol Corvette)
Corvettes and patrol vessels (Gowind 2500, 
OPV 87, OPV 58, MPV 80, BSAOM, etc.)
Mine warfare vessels (BE-NL and SLAMF)
BRF logistic support and refuelling ship 
(FlotLog programme)* 
(outfitting, combat system integration)
Submarines
SNLE 3G future third-generation nuclear-powered 
ballistic missile submarine (SSBN)
Suffren-class nuclear-powered attack submarine 
(SSN)
Blacksword Barracuda-class and Scorpène-class 
conventionally-powered attack submarines (SSK)
Underwater weapons and autonomous systems
Torpedoes (F21, MU90)
Canto countermeasures
Seaquest ® USV and Seagent ® UUV
Steeris ® mission and control system
Systems and equipment
POLARIS, SETIS and SUBTICS combat systems
Sylver vertical launching system
Shipmaster automated steering system
Services
MRO of the French Navy’s ships and submarines
NAVAL GROUP
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
Chantiers de l'Atlantique
TechnicAtome
Fincantieri
Thales
PT PAL
Mazagon Dock Shipbuilders
Navantia
Atlas Elektronik***
Boustead Heavy Industries
Novonor**
Piriou
*Based on the Italian Navy’s Vulcano-class LSS **Through Itaguaí Construções Navais ***Subsidiary of  tkMS, thyssenkrupp group
Exail
Calepin des entreprises international 2026 VA.pdf — page 155

154
NAVANTIA
REVENUE BY REGION (%)
	 Spain
	 Europe (excl. Spain) 
	 Americas
	 Rest of the World
REVENUE BY BUSINESS SEGMENT (%)
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021**
2022
2023
2024
Revenue
1,333
1,342
1,434
1,528
∆ (%) 
22.41%
0.68%
6.86%
6.56%
Defence (%)
75%
79%
74%
70%
Export (%)
51%
52%
42%
41%
Operating 
profit/loss
-105
-98
-63
-138
Operating 
margin
-7.88%
-7.30%
-4.39%
-9.03%
Net income*
-83 
-97 
-122
-197
Order book
7,053   
7,408
8,214
8,164
Employees
4,305   
4,547  
4,939
5,636
Name
%
Country
SAES Capital
51%
Spain
Sociber
50%
Chile
SAMI Navantia 
Naval Industries
49%
Saudi 
Arabia
Inmize Capital
20%
Spain
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE
Major shareholders (as of 10.10.2025)
SEPI (Spanish State)
100%
Symbol
Listed on
Unlisted group
Market Cap
Chairman and CEO
R. Domínguez 
García-Baquero
Chief Operating Officer
G. Mateo-Guerrero 
Alcazar
Chief Technology Officer
Ana Moya Gutiérrez
GOVERNANCE
BUSINESS AREAS
Platform manufacturer and systems integrator
	
 Military shipbuilding (landing helicopter dock, 
frigates, corvettes, patrol vessels, submarines)
	
 Commercial shipbuilding
	
 Naval systems and equipment
	
 Propulsion systems
	
 MRO and modernisation services
	
 Green energy
	 Shipbuilding
	 MRO, Modernisation 
 
& Services
	 Green Energy
	 Systems
	 Other	
70
38
24
3
10
4
48
2
Leading Spanish defence contractor, 100% state-owned, mainly operating in shipbuilding 
(military and civil), and 84th-largest defence contractor worldwide	
*Net income attributable to shareholders
**Figures restated
38
36
59
16
5
20
8
16
Calepin des entreprises international 2026 VA.pdf — page 156

155
NAVANTIA
Surface ships
Juan Carlos I/Canberra/Anadolu-class 
landing helicopter dock (LHD)
Hobart-class air warfare destroyer
Bonifaz-class future multi-mission frigate 
(F-110)
MMPC future European corvette 
(Modular and Multirole Patrol Corvette)
Avante-class family of corvettes 
and patrol boats
Meteoro-class offshore patrol vessel (BAM)
LCM-1E amphibious landing craft
Cantabria/Supply-class replenishment oiler
Submarine
Isaac Peral-class conventionally-powered 
attack submarine (S-80 Plus)
Systems and equipment
SCOMBA naval combat system* 
(Juan Carlos I LHD, F-110 frigate, 
BAM patrol vessel, S-80 Plus submarine)
DORNA fire control system
Propulsion systems
MTU series 396, 956, 1163 and 4000 
marine engines (sublicensed production)
MRO and modernisation services
MRO for Spanish F-100 
and Norwegian F-310 frigates 
and Australian Hobart-class destroyers
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
General Dynamics
Indra Sistemas
Sedef
Lockheed Martin 
BAE Systems
*Based on Lockheed Martin’s Aegis system **Saudi Arabian Military Industries ***MTU Friedrichshafen, Rolls-Royce group
Exail
RTX
MTUF***
GE Aerospace
ASC
Naval Group
SAMI**
Fincantieri
MAN
Calepin des entreprises international 2026 VA.pdf — page 158

157
NORTHROP GRUMMAN
REVENUE BY REGION (%)
	 United States
	 Europe
 Asia / Pacific
	 Rest of the World
REVENUE BY BUSINESS SEGMENT (%)
	 Aeronautics Systems
	 Space Systems
	 Mission Systems
	 Defense Systems
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
30,150
34,760
36,346
37,923
∆ (%) [$]*
-3.08%
2.62%
7.34%
4.44%
Defence (%)
88%
89%
90%
89%
Export (%)
14%
13%
12%
12%
Operating 
profit/loss
4,777
3,420
2,347
4,039
Operating 
margin
15.84%
9.84%
6.46%
10.65%
Net income
5,921   
4,650
1,902
3,858
Order book
67,119  
73,799
76,226
88,035
Employees
88,000  
95,000
101,000
97,000
Name
%
Country
Deep Space Transport
50%
United States
Longbow
50%
United States
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE  (as of 10.10.2025)
Major shareholders (as of 10.10.2025)
State Street Corporation
9.28%
Vanguard Fiduciary Trust Co.
9.27%
Capital Research & Management Co. 
(International Investors) 
8.27%
BlackRock Advisors LLC
5.73%
Symbol
NOC
Listed on
NYSE
Market Cap ($m)
89,273
Chairwoman and CEO
Kathy J. Warden
President, 
Aeronautics Systems
Thomas H. Jones
President, Space Systems
Robert Fleming
GOVERNANCE
BUSINESS AREAS
Platform manufacturer, systems integrator/
equipment supplier
	
 Military aircraft and UAVs
	
 Missiles, weapon systems and ammunition
	
 Defence electronics and C4ISR systems
	
 IT and cybersecurity services
	
 Space (equipment, payloads)
	
 Modernisation and logistic services
*Variation based on revenue in local currency
  See €/$, p.9
29
4
88
27
19
25
7
Aerospace and defence company with a diversified defence portfolio (mainly aeronautics 
and space), 4th-largest defence contractor worldwide
1
Calepin des entreprises international 2026 VA.pdf — page 159

158
NORTHROP GRUMMAN
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
*Based on Lockheed Martins’ C-130J Super Hercules transport aircraft 
Military aircraft
B-21 Raider future strategic bomber
E-130J Phoenix II future TACAMO 
(Take Charge And Move Out) aircraft* 
E-2C/D Hawkeye airborne early warning aircraft
F/A-18E/F Super Hornet (fuselage, avionics, 
etc.) and F-35 Lightning II (fuselage, radar, etc.) 
fighter aircraft
RQ-4 Global Hawk and MQ-4C Triton HALE 
unmanned aircraft systems
Missiles and weapon systems
LGM-35A Sentinel 
future intercontinental ballistic missile
Glide Phase Interceptor (GPI) 
future hypersonic missiles interceptor
AGM-88E AARGM and AGM-88G AARGM-ER 
air-to-surface anti-radiation missiles
Bushmaster cannons (M242, M230, Mk44)
Defence electronics and C4ISR systems
Integrated Air and Missile Defense Battle 
Command System (IBCS) 
command and control (C2) system
Electronic warfare suite 
(F-16 Fighting Falcon, EA-18G Growler, etc.)
AN/AAQ-28(V) Litening targeting pod
Space
Minotaur, Pegasus XL and Antares launchers
Cygnus automated cargo spacecraft
Rocket boosters 
for the SLS and Vulcan Centaur launchers
Future Next-Generation Overhead Persistent 
Infrared Polar (OPIR-Polar)
Firefly Aerospace
Boeing
L3Harris Technologies
General Dynamics
Lockheed Martin
Thales Alenia Space
Rolls-Royce
RTX
Rafael
BAE Systems
MBDA
PGZ
Calepin des entreprises international 2026 VA.pdf — page 161

160
OHB
REVENUE BY REGION (%)*
	 Germany
	 Europe 
	
(excl. Germany)
	 Rest of the World
REVENUE BY BUSINESS SEGMENT (%)*
	 Space Systems
	 Aerospace
	 Digital
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
917
1,001
1,183
1,030
∆ (%)
1.78%
9.16%
18.18%
-12.93%
Defence (%)
N/A
N/A
N/A
N/A
Export (%)
67%
64%
65%
69%
Operating 
profit/loss
47
63
125
14
Operating 
margin
5.13%
6.29%
10.57%
1.36%
Net income*
27  
32
71
-0.2
Order book
2,121
1,875
1,749
2,382
Employees
2,962  
3,025
3,292
3,466
Name
%
Country
MT Aerospace Holding
70%
Germany
COSMOS Space Systems
66.7%
Germany
Rocket Factory Augsburg*
55.1%
Germany
Antares
42%
Italy
Arianespace Participation
5.8%
France
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE (as of 10.10.2025)
Major shareholders (as of 10.10.2025)
Fuchs family
65.4%
Orchid Lux HoldCo (KKR)
28.6%
Free float
5.7%
Treasury shares
0.3%
Symbol
OHB
Listed on
XETRA
Market Cap (€m)
2,383
Chairman 
of the Supervisory Board
Robert Wethmar
Chief Executive Officer
Marco R. Fuchs
Head of Business 
Development and Strategy
Markus Moeller
GOVERNANCE
BUSINESS AREAS
Platform manufacturer, systems integrator/
equipment supplier
	
 Space systems (development and production 
of satellites and payloads)
	
 Production of structures, components 
and propulsion systems
11
13
63
76
33
4
*Revenue distribution based on total sales excluding eliminations
*Net income attributable to shareholders
*Distribution based on sales by geographical areas. The difference
between sales by geographical areas and revenue reached €29m 
in 2024.
Leading German and third-largest European company in the space industry, in charge of the
Heinrich Hertz and SAR-Lupe/SARah satellite systems and supplier to the Ariane 6 programme
31
64
5
*Share as of  30.06.2025
Calepin des entreprises international 2026 VA.pdf — page 162

161
OHB 
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
*Developped by the Rocket Factory Augsburg (RFA) subsidiary **Subsidiary of  Airbus ***RTX group **** Formerly RUAG Space
Space launch
RFA One future small-lift launch vehicle*
Satellites
Laser Interferometer Space Antenna (LISA) 
project
SARah satellite-based reconnaissance system
SAR-Lupe satellite-based reconnaissance system
National Advanced Optical System (NAOS) 
reconnaissance satellite
European Data Relay System (EDRS-C)
Electra communications satellite
Heinrich Hertz communications satellite (H2Sat)
Sentinel family of Earth observation satellites 
(Copernicus programme)
PRISMA Earth observation satellite
Meteosat 3rd generation (MTG) weather satellites
Galileo European global navigation 
satellite system
Structures, components and propulsion systems
Structures, parts and components for launchers 
(Ariane 6, SLS)
Propulsion systems (cold-gas, electrical, 
monopropellant and bipropellant)
Antennas and mechatronics (ALMA programme)
Airborne systems
Aerial Reconnaissance Data System (ARDS)
Thales Alenia Space
Boeing
Collins Aerospace***
Surrey Satellite Technology**
Tesat-Spacecom**
Beyond Gravity****
Leonardo
ArianeGroup
Airbus
Avio
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163
N / A
PATRIA
REVENUE BY REGION (%)
	 Finland
	 Export markets
REVENUE BY BUSINESS SEGMENT (%)
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
548
627
734
826
∆ (%) 
2.55%
14.50%
17.01%
12.52%
Defence (%)
92%
90%
90%
92%
Export (%)
28%
31%
34%
37%
Operating 
profit/loss
61
54
69
82
Operating 
margin
11.17%
8.58%
9.39%
9.91%
Net income*
45   
38
50
55
Order book
1,550   
1,751  
1,943
2,376
Employees
3,097   
3,311
3,385
3,662
Name
%
Country
Defence Partnership Latvia
70%
Latvia
Millog
61.8%
Finland
Senop
61.8%
Finland
Nammo
50%
Norway
Kongsberg Aviation 
Maintenance Services
49.9%
Norway
H&H Tech
30%
Germany
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE
Symbol
Listed on
Unlisted group
Market Cap
GOVERNANCE
Chairman
Panu Routila
Chief Executive Officer
Esa Rautalinko
Chief Program Officer, F-35
Petri Hepola
BUSINESS AREAS
Platform manufacturer and systems integrator
	
 Wheeled armoured vehicles
	
 Weapon systems (remote controlled weapon 
stations, mortar systems)
	
 Aeronautics (assembly, aerostructures, 
unmanned aerial systems)
	
 ISR and communication systems
	
 Training, MRO and logistics support
	
 Ammunition (see also Nammo)
*Net income attributable to shareholders
69
31
Group majority-owned by the Finnish State (50.1%), mainly involved in the production of wheeled 
armoured vehicles and weapon systems, and 98th-largest defence contractor
63
37
Major shareholders (as of 10.10.2025)
Finnish State
50.1%
Kongsberg Defence & Aerospace
49.9%
Calepin des entreprises international 2026 VA.pdf — page 165

164
Wheeled armoured vehicles
AMV and AMVXP 8x8 armoured vehicles
6x6 armoured vehicle (Common 
Armoured Vehicle System programme)
Weapon systems
NEMO turreted remote-controlled 
120mm mortar system
Advanced MOrtar System (AMOS) 
turreted 120mm mortar system
Aeronautics
F-35 Lightning II fighter aircraft 
(forward fuselage and F135 turbofan 
assembly, aerostructures)
Composite components 
(A400M, NH90, Erieye radar)
ISR and communication systems
Night vision and targeting systems
Sonac DTS anti-submarine warfare sonar
Compact Airborne Networking Data Link 
(CANDL)
Training, MRO and logistics support
Military pilot training
MRO for aircraft (F/A-18C/D, G 115 E, 
Hawk Mk51/66, C295M) 
and helicopters 
(NH90, AB412, AW101, AW169)
Aircraft engine MRO 
(F100, F135, F404, RTM322)
Military vehicles MRO 
(XA-185, AMV, CV90, Bv 206)
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
Lockheed Martin
BAE Systems
Konstrukta Defence*
Saab
Defence Service Logistics**
Japan Steel Works
Djuro Djakovic
Airbus
PGZ
Denel
Pratt & Whitney***
Kongsberg
PATRIA 
Leonardo
*Subsidiary of  DMD Group **Subsidiary of  KNDS Deutschland ***RTX group
Calepin des entreprises international 2026 VA.pdf — page 167

166
POLSKA GRUPA ZBROJENIOWA (PGZ)
Name
%
Country
Mesko
93.29%
Poland
ZM „BUMAR-LABEDY”
86.45%
Poland
Huta Stalowa Wola
86.42%
Poland
Jelcz
86.42%
Poland
Cenzin
72.7%
Poland
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE
Major shareholders (as of 10.10.2025)
Polish Ministry of State Assets
67.89%
Polish Defence Holding
16.61%
Polish Agency for industrial 
development
15.50%
Symbol
Unlisted group
Listed on
Market Cap
President 
of the Supervisory Board
Artur Kołosowski
President 
of the Management Board
Adam Leszkiewicz
Vice President 
of the Management Board
Arkadiusz Bak
GOVERNANCE
BUSINESS AREAS
Platform manufacturer and systems integrator
	
 Land platforms and systems 
(armoured vehicles and artillery systems)
	
 Missiles, weapon systems and ammunition
	
 Unmanned aircraft systems
	
 Military shipbuilding
	
 Defence electronics
	
 MRO and modernisation services
	
 Energy and offshore
Holding company encompassing more than 70 Polish companies, including more than 30 
operating in various fields of the defence industry, and 54th-largest defence contractor 
*Variation based on revenue in local currency
  See €/PLN, p.9
REVENUE BY BUSINESS SEGMENT (%)
N / A
REVENUE BY REGION (%)
82
18
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
1,392
1,783
2,257
3,237
∆ (%) [PLN]*
-1.21%
31.47%
22.70%
35.97%
Defence (%)
73%
74%
72%
72%
Export (%)
11%
18%
18%
N/A
Operating 
profit/loss
121
134
264
569
Operating 
margin
8.67%
7.50%
11.71%
17.58%
Net income
96
93
192
390
Order book
N/A
N/A
N/A
N/A
Employees
17,810
18,270
≈ 20,000
≈ 21,000
N / A
Calepin des entreprises international 2026 VA.pdf — page 168

167
Land platforms and systems
Borsuk infantry fighting vehicle
KTO Rosomak 8x8 armoured vehicle 
(under Patria licence)
Krab 155mm self-propelled tracked howitzer*
Rak 120mm self-propelled mortar system
Missiles and weapon systems
Spike-LR anti-tank missile 
(under Rafael licence)
Piorun / Grom-M man-portable 
anti-aircraft missile
Wisla air defence system** 
(including PAC-3 MSE interceptors)
Unmanned aircraft systems
PGZ-19RA Orlik future tactical UAV
Military shipbuilding
Wicher-class future coastal defence frigate***
Kormoran II-class mine warfare vessel 
(electronics and weapon systems)
Defence electronics
TRS-15 Odra 3D surveillance radar
MRO and modernisation services
Armoured vehicles MRO and modernisation 
(Leopard 2A4 / 2A5, T-72, BWP-1 Puma, Tumak)
Aircraft (MiG-29, F-16, C-130) 
and turbofan engine (F100) 
MRO and modernisation
NSM (Naval Strike Missile) 
Coastal Defence System MRO
POLSKA GRUPA ZBROJENIOWA (PGZ)
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
Rheinmetall
Patria
Hanwha Aerospace****
Rafael
RTX
*Based on Hanwha Aerospace’s K9 Thunder (Hanwha group) **Based on Raytheon’s Patriot system (RTX group) 
***Based on Babcock’s Type 31 frigate ****Hanwha group
Lockheed Martin
Remontowa Shipbuilding
WB Electronics
Kongsberg
Babcock
Northrop Grumman
Calepin des entreprises international 2026 VA.pdf — page 170

169
RAFAEL ADVANCED DEFENSE SYSTEMS
Name
%
Country
Aeronautics
50%
Israel
Shilat Optronics
50%
Israel
Opgal Optronic Industries
49.9%
Israel
Astra Rafael Comsys
49%
India
Kalyani Rafael Advanced 
Systems
49%
India
Raytheon Rafael Area 
Protection Systems
47%
United 
States
EuroSpike
20%
Germany
EuroTrophy
N/A
Germany
Varley Rafael Australia
N/A
Australia
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE
Major shareholders (as of 10.10.2025)
Israeli State
100%
Symbol
Unlisted group
Listed on
Market Cap
Chairman
Yuval Steinitz
Chief Executive Officer
Yoav Tourgeman
Executive Vice-President, 
Air and C4I
Yuval Miller
GOVERNANCE
BUSINESS AREAS
Systems integrator/equipment supplier
	
 Missiles and air defence systems
	
 ISR, communication and electronic warfare 
systems
	
 Weapon and protection systems
	
 Unmanned systems
	
 Space (microsatellites, propulsion systems, 
structures)
	
 Cybersecurity
Defence technology company mainly operating in the field of air defence systems (David’s Sling, 
Iron Dome) and missiles (Spike), 31st-largest defence company worldwide
*Variation based on revenue in US dollars
  See €/$, p.9
REVENUE BY BUSINESS SEGMENT (%)
N / A
REVENUE BY REGION (%)
	 Israel
	 Export markets
82
18
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
2,599
3,278
3,515
4,455
∆ (%) [$]*
5.05%
16.66%
N/A
26.84%
Defence (%)
≈ 100%
≈ 100%
≈ 100%
≈ 100%
Export (%)
≈ 50%
N/A
46%
46%
Operating 
profit/loss
N/A
N/A
N/A
N/A
Operating 
margin
N/A
N/A
N/A
N/A
Net income
113
142
145
238
Order book
8,180
9,490
13,005
17,093
Employees
8,019
8,266
8,515
≈ 10,000
54
46
Calepin des entreprises international 2026 VA.pdf — page 171

170
Missiles and air defence systems
Spike family of missiles (Spike SR/ER2/LR2 
anti-tank missiles, Spike NLOS and Naval Spike 
NLOS/ER multipurpose missiles)
SPICE 250 / 1000 / 2000 
precision-guided bomb kit
David’s Sling air and missile defence system 
and Stunner and SkyCeptor interceptors
Barak 8 air and missile defence system
Iron Dome short-range air defence system 
and Tamir and SkyHunter interceptors
Spyder family of air defence systems
Iron Beam future laser air defence system
C-Dome naval missile defence system
Drone Dome Counter Unmanned Aircraft Sytem 
(C-UAS)
C4ISR systems
TopLite optronical system
Litening advanced targeting pod
Weapon and protection systems
Samson family 
of remote controlled weapon stations
Typhoon family 
of naval remote controlled weapon stations
Trophy Active Protection System (APS)
Unmanned systems
Protector USV
RAFAEL ADVANCED DEFENSE SYSTEMS
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
Lockheed Martin
IAI*
Bharat Forge**
Leonardo
Diehl Defence
*Israel Aerospace Industries **Subsidiary of  Kalyani Group, through Kalyani Rafael Advanced Systems ***RTX group
Raytheon***
Rheinmetall
Elbit Systems
General Dynamics
KNDS Deutschland
Northrop Grumman
Calepin des entreprises international 2026 VA.pdf — page 173

172
RHEINMETALL
REVENUE BY REGION (%)
	 Germany
	 Europe  
	
(excl. Germany)
	 Asia / Middle East
	 Americas
	 Rest of the World
	 Vehicle Systems
	 Weapon and Ammunition
	 Power Systems
	 Electronic Solutions
Name
%
Country
ARTEC
64%
Germany
Rheinmetall BAE Systems 
Land
55%
United Kingdom
Rheinmetall Ukrainian 
Defense Industry
51%
Ukraine
Leonardo Rheinmetall 
Military Vehicles
50%
Italy
Projekt System 
& Management
50%
Germany
EuroSpike
40%
Germany
MGCS Project Company
25%
Germany
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE (as of 10.10.2025)
Major shareholders (as of 10.10.2025)
Fidelity Management & Research Co.
2.91%
Wellington Management Co. LLP
2.91%
Treasury shares
0.27%
FMR Investment Management (UK) Ltd.
0.20%
Symbol
RHM
Listed on
XETRA
Market Cap (€m)
86,468
Chairman 
of the Supervisory Board
Ulrich Grillo
Chief Executive Officer
Armin Papperger
Chief Operating Officer
René Gansauge
GOVERNANCE
BUSINESS AREAS
Platform manufacturer, systems integrator/
equipment supplier
	
 Military vehicles (tracked and wheeled 
armoured vehicles, military trucks, etc.)
	
 Cannons, turrets and weapon systems
	
 Ammunition
	
 Defence electronics
	
 Simulation and training solutions
	
 Aeronautics (assembly, MRO)
	
 Equipment for the automotive industry
Germany’s leading defence group, one of Europe’s leading players in land systems, in the process 
of acquiring German shipbuilder NVL Group, and 18th-largest defence contractor
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
5,658
6,410
7,176
9,751
∆ (%)
4.68%
13.29%
11.95%
35.88%
Defence (%)
67%
68%
71%
78%
Export (%)
66%
71%
76%
70%
Operating 
profit/loss
608
738
897
1,345
Operating 
margin
10.75%
11.51%
12.50%
13.79%
Net income*
291
474
535
717
Order book**
13,930
15,089
21,977
30,728
Employees
23,945  
25,486
28,054
28,539
*Net income attributable to shareholders
**Defence activities only
REVENUE BY BUSINESS SEGMENT (%)*
19
13
12
21
36
30
16
9
9
*Excluding Other division
39
26
21
14
30
47
10
8
5
Calepin des entreprises international 2026 VA.pdf — page 174

173
RHEINMETALL
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
*Based on KNDS Deutschland’s Leopard 2A4 **Subsidiary of  SC Group 
Military vehicles
Main Ground Combat System (MGCS) 
future French-German main battle tank
Panther KF51 future main battle tank*
Lynx KF31/KF41 tracked armoured 
infantry fighting vehicle
Puma tracked armoured 
infantry fighting vehicle
Boxer 8x8 armoured 
infantry fighting vehicle
Caracal 4x4 light armoured vehicle 
for Special Forces
HX and TG-MIL high mobility 
logistic vehicles
Cannons and turret systems
L52 155mm cannon 
(PzH 2000 self-propelled howitzer)
L44 and L55 120mm cannons 
(Leopard 2 and M1 Abrams tanks)
Lance 2 turret system (30mm calibre)
Skyshield / MANTIS and Skyranger 
air defence systems
Ammunition
Large calibre (120mm and 155mm) 
and medium calibre (20mm, 25mm, 
27mm and 30mm) ammunition
HERO family of loitering munitions
Future soldier systems
Gladius 2.0 / IdZ-ES family of systems
Simulation and training solutions
Flight simulators 
(Typhoon, A400M, NH90, Tiger, etc.)
MAN
Leonardo
UkrOboronProm
Supacat**
Textron
General Dynamics
BAE Systems
Denel
SupaShock
Airbus
UVision Air
KNDS Deutschland
KNDS France
Calepin des entreprises international 2026 VA.pdf — page 176

175
ROLLS-ROYCE
REVENUE BY REGION (%)*
	 United Kingdom
	 North America
 Asia / Pacific
   Europe (excl. UK)
	 Middle East
	 Rest of the World
Name
%
Country
LHTEC
50%
United States
TAEC Ucak Motor Sanayi
49%
Turkey
EuroJet Turbo
33%
Germany
EuroProp International
28%
Germany
MTU Turbomeca 
Rolls-Royce ITP
25%
Germany
Airtanker Services
23.5%
United Kingdom
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE  (as of 10.10.2025)
Major shareholders (as of 10.10.2025)
Causeway Capital Management LLC
5.00%
Harris Associates LP
5.00%
Massachusetts Financial Services Co.
4.95%
The Vanguard Group, Inc.
3.06%
Symbol
RR
Listed on
LSE
Market Cap (£m)
95,688
Chairwoman
Anita Frew
Chief Executive Officer
Tufan Erginbilgic
President, Defence
Adam Riddle
GOVERNANCE
BUSINESS AREAS
Engine manufacturer
	
 Aircraft propulsion systems
	
 Naval propulsion systems (gas turbines, 
nuclear reactors, diesel engines)
	
 Distributed generation systems
	
 MRO and logistic support
	 Civil Aerospace
	 Defence
	 Power Systems

Aerospace and marine propulsion manufacturer, one of the world’s top three producers 
of engines for civil and military aircraft, and the world’s 25th-largest defence company
REVENUE BY BUSINESS SEGMENT (%)*
KEY FIGURES* (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
12,729
14,878
17,711
21,072
∆ (%) [£]**
-4.23%
15.93%
21.42%
15.83%
Defence (%)***
31%
29%
26%
25%
Export (%)
87%
88%
87%
86%
Operating 
profit/loss
481
764
1,828
2,909
Operating 
margin
3.78%
5.14%
10.32%
13.81%
Net income****
12
185
1,313
2,374
Order book
60,238
67,869
78,826
99,035
Employees
43,631
41,875
41,810
42,211
*Figures adjusted
**Variation based on revenue in local currency
    See €/£, p.9
***Defence division only ****Net income attributable to shareholders
*Excluding New Markets and Other Businesses divisions
41
31
25
3
*Revenue distribution based on total sales excluding eliminations
51
25
24
14
31
23
21
6
5
Calepin des entreprises international 2026 VA.pdf — page 177

176
Aircraft engines
Engine for the GCAP future fighter aircraft*
EJ200 (Eurofighter Typhoon)
LiftSystem (F-35B Lightning II)
Adour (Jaguar, Hawk / T45)
TP400-D6 (A400M)
AE 2100 (C-130J)
AE 3007 (Embraer ERJ / Legacy)
Trent 700 (A330 MRTT)
Hypersonic propulsion systems project
Helicopter engines
MTR390-E (Tiger)
CTS800 (Lynx / Super Lynx, AW159, T129)
T406-AD-400 / AE 1107C (V-22 Osprey)
AE 1107F (MV-75)
UAV propulsion systems
Future Orpheus
F137 / AE 3007 (RQ-4, MQ-4C)
Naval and submarine propulsion systems
MT30 gas turbine 
(Queen Elizabeth-class aircraft carriers, 
Type 26 and Chungnam-class frigates)
PWR2 (Vanguard SSBN, Astute SSN) 
and PWR3 (Dreadnought SSBN) 
nuclear reactors
mtu Series 4000 / 8000 diesel engines
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
Avio Aero**
IHI Corporation
Reaction Engines
*Referred to as Tempest in the UK **Subsidiary of  GE Aerospace ***RTX group ****Hindustan Aeronautics Ltd
STX Engine
StandardAero
ITP Aero
Honeywell
Pratt & Whitney***
MTU Aero Engines
Safran
HAL****
ROLLS-ROYCE
Calepin des entreprises international 2026 VA.pdf — page 179

178
RTX
REVENUE BY REGION (%)
REVENUE BY BUSINESS SEGMENT (%)*
 Pratt & Whitney 
	 Raytheon
	 Collins Aerospace
Name
%
Country
Raytheon Rafael Area 
Protection Systems
53%
United States
Collins Elbit Vision 
Systems
50%
United States
COMLOG
50%
Germany
Range Generation Next
50%
United States
Raytheon-Lockheed 
Martin Javelin JV
50%
United States
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE (as of 10.10.2025)
Major shareholders (as of 10.10.2025)
Vanguard Fiduciary Trust Co.
9.16%
State Street Corporation
8.46%
BlackRock Advisors LLC
6.30%
Capital Research & Management Co. 
(Global Investors)
5.66%
Symbol
RTX
Listed on
NYSE
Market Cap ($m)
211,088
Chairman and CEO
Christopher T. Calio
Chief Operating Officer
Paolo Dal Cin
President, Raytheon
Philip Jasper
GOVERNANCE
BUSINESS AREAS
Missile, systems integrator/equipment supplier 
and engine manufacturer
	
 Missiles and shells
	
 Integrated defence systems 
(radar, air defence systems)
	
 C5ISR systems
	
 Commercial and military aerostructures 
and aircraft equipment
	
 Commercial and military aircraft 
propulsion systems
	
 Space
*Variation based on revenue in local currency
   See €/$, p.9 
**Excluding Powder Metal Matter-related impacts for Pratt & Whitney 
in 2023 ***Net income attributable to shareholders
32
20
14
4
5
35
57
33
	 United States
	 Europe
 Asia / Pacific
	 Middle East 
	
and North Africa
	 Rest of the World
Aerospace and defence company, among the world leaders in missiles, aeronautical 
equipment and engines, and the world’s 2nd-largest defence contractor
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
54,428
63,698
63,756
74,619
∆ (%) [$]*
13.79%
4.17%
2.75%
17.15%
Defence (%)
65%
59%
59%
54%
Export (%)**
38%
39%
40%
43%
Operating 
profit/loss
4,342
5,227
3,294
6,043
Operating 
margin
7.98%
8.21%
5.17%
8.10%
Net income***
3,266 
4,935
2,956
4,412
Order book
137,688 
164,011
177,376
209,817
Employees
174,000 
182,000
185,000
186,000
*Excluding Other activities
Calepin des entreprises international 2026 VA.pdf — page 180

179
Missiles and shells (Raytheon)
AGM-181 LRSO 
future nuclear ballistic missile
Tomahawk cruise missile
AIM-9 Sidewinder family of air-to-air missiles
AIM-120 AMRAAM air-to-air missile
Naval Strike Missile (NSM) / 
Joint Strike Missile (JSM)
FGM-148 Javelin anti-tank missile
BGM-71 TOW anti-tank missile
Excalibur M982 
advanced precision guided artillery shell
Integrated defence systems (Raytheon)
AN/SPY-6 AESA naval radar (Aegis)
AN/TPY-2 early warning radar (THAAD)
Patriot missile defence system (integrator)
David’s Sling air and missile defence system 
and Stunner interceptor
Aircraft systems (Collins Aerospace)
Landing gears 
(F-15, F-16, F-35, C-17, AH-64)
Propeller systems* 
(A400M, C-130H, E-2C/D)
Military aircraft propulsion systems 
(Pratt & Whitney)
F135 turbofan engine (F-35)
F100 turbofan engine (F-15, F-16, X-47B)
PT6A turboprop engine 
(EMB 314, Hürkus, T-6, PC-21, Heron TP)
RTX
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
*Produced by French subsidiary Ratier-Figeac **Mitsubishi Heavy Industries
GKN Aerospace
Diehl Defence
MHI**
L3Harris Technologies
Kongsberg
Lockheed Martin
Northrop Grumman
BAE Systems
Nammo
Thales
Rafael
Calepin des entreprises international 2026 VA.pdf — page 182

181
SAAB 
REVENUE BY REGION (%)
REVENUE BY BUSINESS SEGMENT (%)*
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
3,859
3,952
4,496
5,576
∆ (%) [SEK]*
10.51%
7.28%
22.86%
23.53%
Defence (%)
90%
89%
90%
92%
Export (%)
62%
58%
58%
59%
Operating 
profit/loss
285
308
372
495
Operating 
margin
7.38%
7.79%
8.28%
8.88%
Net income**
190   
206
295
365
Order book
10,261  
11,480
13,826
16,339
Employees
18,153  
19,002
21,479
24,481
Name
%
Country
TAURUS Systems
33%
Germany
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE (as of 10.10.2025)
Major shareholders (as of 10.10.2025)
Investor AB (Investment Company)
29.01%
Wallenberg Investments AB
8.87%
Swedbank Robur Fonder AB
3.16%
Norges Bank Investment Management
1.85%
Symbol
SAAB B
Listed on
Nasdaq Stockholm
Market Cap (SEKm)
281,284
Chairman
Marcus Wallenberg
Chief Executive Officer
Micael Johansson
Head of Aeronautics 
division
Lars Tossman
GOVERNANCE
BUSINESS AREAS
Platform manufacturer and systems integrator
	
 Military aircraft and UAVs
	
 Naval platforms and systems
	
 Missiles and weapon systems
	
 Defence electronics
	
 Information security and system integration
	
 Simulation solutions
	 Sweden
	 Europe (excl. Sweden)
	 North America
	 Asia
	 Latin America
	 Rest of the World
*Variation based on revenue in local currency
  See €/SEK, p.9
**Net income attributable to shareholders
34
42
	 Surveillance
	 Aeronautics
	 Dynamics
	 Kockums
	 Combitech
21
5
9
31
19
9
*Revenue distribution based on total sales excluding Corporate division
Group mainly operating in the defence sector (Gripen fighter aircraft, A26 submarine), 
leading supplier to the Swedish Armed Forces and 26th-largest defence contractor
34
26
23
13
4
41
25
10
8
7
9
Calepin des entreprises international 2026 VA.pdf — page 183

182
Military aircraft
JAS 39 Gripen E/F fighter aircraft
T-7A Red Hawk future trainer aircraft 
(aft fuselage)
340 Erieye AEW&C 
and 2000 Erieye AEW&C aircraft
GlobalEye AEW&C aircraft (radar)
Skeldar V-200 VTOL UAV
nEUROn UCAV demonstrator (landing gear 
doors, main fuselage, avionics, etc.)
Naval platforms and systems
Blekinge-class 
future conventionally-powered 
attack submarine (A26)
Luleå-class future heavy corvette
Missiles and weapon systems
RBS 15 Mk3 anti-ship missile
IRIS-T short-range air-to-air missile
METEOR beyond visual range 
air-to-air missile
TAURUS air-launched cruise missile
AT4, Carl-Gustaf M4 and NLAW 
man-portable shoulder-fired systems
RBS 70 NG short-range air defence system
Defence electronics
Giraffe and Sea Giraffe family of radars 
(75, AMB, 1X, 4A, 8A)
IDAS (Integrated Defensive Aids System)
BOL advanced countermeasure dispenser
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
Thales
Dassault Aviation
Embraer
MBDA
Bombardier
Leonardo
Diehl Defence
Boeing
Babcock
*Serbian Military Technical Institute
Patria
BAE Systems
VTI*
SAAB
Calepin des entreprises international 2026 VA.pdf — page 185

184
SABENA TECHNICS
REVENUE BY REGION (%)
REVENUE BY BUSINESS SEGMENT (%)
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
≈ 500
≈ 650
≈ 700
≈ 700
∆ (%)
-3.85%
30.00%
7.69%
0.00%
Defence (%)
N/A
N/A
≈ 50%
≈ 50%
Export (%)
N/A
N/A
≈ 50%
≈ 50%
Operating 
profit/loss
N/A
N/A
N/A
N/A
Operating 
margin
N/A
N/A
N/A
N/A
Net income
N/A
N/A
N/A
N/A
Order book
N/A
N/A
N/A
N/A
Employees
3,000
3,500
3,500
4,000
Name
%
Country
MAIN JOINT VENTURES AND ASSOCIATES*
OWNERSHIP STRUCTURE
Major shareholders (as of 10.10.2025)
Sagard, TowerBrook and Bpifrance*
N/A
TAT Group (Marchais family)**
N/A
Management**
N/A
Symbol
Listed on
Unlisted group
Market Cap
Chief Executive Officer
Hervé Grandjean
Co-COO, Head of the Nîmes 
and Perpignan sites
Philippe 
Fournadet
Co-COO, 
Head of the Bordeaux site
Thierry Casale
Co-COO, 
Head of the Helicopter division
Philippe Delisle
GOVERNANCE
BUSINESS AREAS
Provider of aircraft MRO and related services
	
 Military and civil aircraft MRO 
and modernisation services
	
 Aircraft systems and components
	
 Related services
	 France
	 Europe (excl. France)
	 Rest of the World
34
42
21
5
9
31
19
9
French group specialising in aircraft MRO and related services, with an expanded offering 
for military aircraft and helicopters following various acquisitions	
35
27
24
9
5
50
30
20
N / A
*Investment firms (majority stake) 
**Minority stake
*No information available
Calepin des entreprises international 2026 VA.pdf — page 186

185
Military aircraft MRO 
and modernisation services
CN235 aircraft upgrade 
(French Air Force)
C-130H aircraft upgrade 
(French Air Force)
A400M and A330 MRTT aircraft MRO
C-135 and KC-135 aircraft MRO
H225M Caracal, H215M Cougar, 
H125M Fennec and H155 Dauphin 
helicopters MRO
Aircraft modification
Aicraft systems and components
Equipment maintenance and production 
(hydraulics, avionics, mechanics)
Services
Supply chain management 
(inventory, spare parts, etc.)
Technical training (for pilots, etc.)
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
Thales
Lockheed Martin
Metrea
Collins Aerospace*
Saab
*RTX group
Airbus
SABENA TECHNICS
Calepin des entreprises international 2026 VA.pdf — page 188

187
SAFRAN
REVENUE BY REGION (%)
	 France
	 Americas
	 Europe (excl. France)
	 Asia / Oceania
	 Africa / Middle East
KEY FIGURES* (Fiscal year ended: December 31st)
€ millions
2021
2022
2023
2024
Revenue
15,257
19,035
23,199
27,317
∆ (%) 
-7.52%
24.76%
21.88%
17.75%
Defence (%)
28%
21%
17%
18%
Export (%)
78%
79%
81%
81%
Operating 
profit/loss
1,400
1,958
2,655
4,125
Operating 
margin
9.18%
10.29%
11.44%
15.10%
Net income**
760   
1,178
2,028
3,068
Order book
N/A
N/A
N/A
N/A
Employees
76,765   
83,276
91,984
99,364
Name
%
Country
ArianeGroup
50%
France
EUMET
50%
Germany
EURA
50%
France
Lynred
50%
France
Aubert & Duval
33.33%
France
CILAS
31.5%
France
EuroProp International
28%
Germany
MAIN JOINT VENTURES AND ASSOCIATES
OWNERSHIP STRUCTURE (as of 10.10.2025)
Major shareholders (as of 10.10.2025)
French State
11.58%
TCI Fund Management Ltd.
7.09%
BlackRock Fund Advisors
5.12%
Employees
4.99%
Symbol
SAF
Listed on
Euronext Paris
Market Cap (€m)
125,946
Chairman
Ross McInnes
Chief Executive Officer
Olivier Andriès
President, 
Safran Aircraft Engines
Stéphane Cueille
President, 
Safran Electronics & Defense
Franck Saudo
GOVERNANCE
BUSINESS AREAS
Engine manufacturer, systems integrator/
equipment supplier
	
 Aircraft and helicopter engines, satellite 
and missile propulsion systems
	
 Aircraft systems and equipment
	
 Optronics, avionics, navigation systems, 
defence electronics and critical software
	
 Security systems
	
 Unmanned aircraft systems
*Figures adjusted
**Net income attributable to shareholders
50
38
40
10
21
20
13
8
Leading global aerospace engine and equipment manufacturer (civil and military aircraft 
and helicopters) and 29th-largest defence company worldwide
REVENUE BY BUSINESS SEGMENT (%)*
	 Propulsion
	 Equipment 
 
& Defense
	 Aircraft Interiors
21
38
20
13
8
50
39
11
19
35
24
13
9
*Excluding Holding & other activities
Calepin des entreprises international 2026 VA.pdf — page 189

188
Aircraft engines
Work on motorisation as part of the NGWS 
programme (Next Generation Weapon System)
M88 afterburning turbofan engine (Rafale)
TP400 turboprop engine (A400M)
FRTM322 turboshaft family 
(NH90, AW101, Apache AH Mk 1)
Ardiden turboshaft family 
(Druhv, LCH, LUH, Ka-62, AC352)
MTR390-2C (Tiger HAP, ARH, UHT) 
and MTR390-E (Tiger HAD) turboshaft engines
Arrano 1A turboshaft engine (H160M)
Space propulsion systems
Plasma propulsion 
(PPS 1350-G, PPS 1350-E, PPS 5000, PPS X00)
Missile propulsion systems
TR 40 (EXOCET, NSM), 
TR 50 (MdCN / SCALP Naval) 
and TR 60-30 (Apache, SCALP EG / STORM 
SHADOW, RBS-15) turbojet engines
Guidance systems
Missile seekers 
(AKERON MP / LP, MICA IR, Mistral)
AASM / Hammer family 
of precision-guided bomb kits
Navigation and optronics systems
Geonyx M inertial navigation system 
for armoured vehicles
Series 30 MOA and Series 30 MOV 
optronic masts for submarines
Euroflir 610 gyrostabilised electro-optical system
Unmanned aircraft systems
Patroller tactical UAV
SAFRAN
MAIN PROGRAMMES, COOPERATIONS  
AND EXPORT PARTNERSHIPS
Rolls-Royce
ITP Aero
HAL**
Ecarys*
MBDA
MTU Aero Engines
Saab
KNDS France
Mades
Hensoldt
*Subsidiary of  Stemme **Hindustan Aeronautics Ltd
Kongsberg
Calepin des entreprises international 2026 VA.pdf — page 191

190
SOPRA STERIA
REVENUE BY REGION (%)
REVENUE BY BUSINESS SEGMENT (%)
KEY FIGURES (Fiscal year ended: December 31st)
€ millions
2021
2022
2023****
2024
Revenue*
4,683
5,101
5,469
5,777
∆ (%)
9.85%
8.93%
7.21%
5.63%
Defence (%)**
16%
20%
25%
22%
Export (%)
53%
53%
52%
53%
Operating 
profit/loss
303
361
384
460
Operating 
margin
6.47%
7.08%
7.02%
7.96%
Net income***
188   
248
184
251
Order book
N/A
N/A
N/A
N/A
Employees
47,437   
49,690
51,768
50,988
Name
%
Country
74Software 
(formerly Axway Software)
11%
France
MAIN JOINT VENTURES AND ASSOCIATES*
OWNERSHIP STRUCTURE (as of 10.10.2025)
Major shareholders (as of 31.10.2025)
Free float
67.2%
Sopra GMT*
19.6%
Employees
6.0%
Treasury shares
4.6%
Founders and Management*
2.6%
Symbol
SOP
Listed on
Euronext Paris
Market Cap (€m)
2,799
Chairman
Pierre Pasquier
Chief Executive Officer
Xavier Pecquet*
Defence & Security 
Director
Thierry Lempereur
GOVERNANCE
BUSINESS AREAS
Digital services supplier and systems integrator
	
 Cybersecurity
	
 Digital transformation
	
 Information systems integration
	
 Development of technology-specific solutions
	
 IT and cloud infrastructure management
*Excluding Cybersecurity activities
**Aeronautics, Space, Defence & Security activities
***Net income attributable to shareholders 
****Figures restated
62
10
15
13
French digital services company, among the top 15 players in Europe and a major player 
in the French cybersecurity market	
53
47
	 Consulting 
 
& Systems Integration
	 Business Process 	
	
	
Services
	 Hybrid Cloud 
 
& Technology Services
	 Development 
	
of Business Solutions
	 France
	 Export markets
47
53
68
15
11
6
*As of  31.12.2024
*Shareholders’ agreement
*Replaced on February 2, 2026 by Rajesh Krishnamurthy