Calepin des entreprises international 2026 VA.pdf — page 31

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AVIO
Business trends
	
 Avio revenues increased 30.4% in 2024 to €442 million. Growth was driven by the Vega and Ariane launchers 
divisions, thanks to the successful maiden flight of Ariane 6, the return to flight of Vega C and the development 
of Vega E, and the Defence propulsion division. Revenues from technology development projects funded by 
the Next Gen EU plan almost doubled.
	
 The group’s order book increased by more than a quarter to reach €1.72 billion at the end of 2024, thanks to 
orders worth €807 million received during the year.
	
 Vega C successfully completed two flights in April and July 2025. Arianespace will manage the next two flights 
of Vega C, after which responsibility for launch operations and commercialisation rights for the launcher will 
be transferred to Avio. In August 2025, the group obtained a 10-year administrative licence from France to 
manage operations related to Vega launchers at the Guiana Space Centre in Kourou.
	
 In September 2025, Avio presented a new 10-year strategic plan, forecasting average revenue growth 
of around 10% per year, thanks in particular to the construction of a solid propellant engine factory in the 
United States. Scheduled to be operational by the end of 2028, the site will be financed by a €400 million capital 
increase. In August 2025, the group also strengthened its partnership with the U.S. Army for the production of 
solid propellant rocket engines for tactical missiles.
Home market
	
 Ariane 6 successfully completed its first three commercial flights in March, August and November 2025, and 
a fourth launch is scheduled for December 2025. Avio has already signed several contracts for the production 
of P120C engines and liquid oxygen turbopumps for the Vulcain 2.1 and Vinci engines for the first 14 units of 
the launcher.
	
 In December 2024, the group signed two contracts worth a total of around €350 million with the European 
Space Agency (ESA) to increase the number of Vega C flights up to six per year and to accelerate the 
development of Vega E, whose maiden flight is scheduled for late 2027 or early 2028.
	
 In August 2025, as part of the European Flight Ticket Initiative, ESA tasked Avio with launching three satellites 
and systems with a Vega C launcher for the German Aerospace Centre (DLR), the French company 
GRASP Earth and the Spanish company PERSEI Space.
	
 In September 2025, Avio signed a €40 million two-year contract with ESA for the development of a reusable 
upper stage demonstrator and associated ground segment. The group will draw on its expertise in liquid 
propulsion systems and the Space Rider space shuttle programme.
Export markets
	
 Avio signed several contracts with MBDA to supply rocket motors for CAMM-ER missiles (€150 million in 
December 2024) and ASTER 30 missiles (€60 million in July 2025).
	
 In September 2025, the Avio USA subsidiary signed a contract worth up to $26 million (€22 million) with 
Raytheon (part of RTX) to provide engineering services to support the production of the Mk 104 propulsion 
system for Standard Missiles.
	
 In September 2025, Avio also reached an agreement with American launch services operator SpaceLaunch to 
launch an Earth observation satellite using Vega C in 2027 on behalf of a non-European institutional customer.
Technology and Innovation
	
 The group’s self-financed R&D expenditure amounted to €4.9 million in 2024, representing 1.1% of revenues.
	
 The hot-fire test of the P160C, the future engine for the Ariane 6, Vega C and Vega E launchers with improved 
capabilities compared to the P120C, was successfully completed in April 2025. Development of the MR10 
engine, which will power the third stage of the Vega E, and its successor, the MR60 engine, is also underway.
STRATEGIC HIGHLIGHTS