Calepin des entreprises international 2026 VA.pdf — page 169

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POLSKA GRUPA ZBROJENIOWA (PGZ)
Business trends
	
 PGZ revenues reached PLN 13.94 billion (€3,237 million) in 2024, 72% of which in defence activities. Growth 
was driven by contracts won in recent years with the Ministry of National Defence of Poland, while export  sales 
grew at a slower pace. In 2025, PGZ aims to achieve sales of more than PLN 20 billion (€4.6 billion), thanks in 
particular to the expected rise in Polish military spending (4.5% of GDP in 2025).
	
 Under an agreement signed in 2024, the subsidiary Mesko and Eurenco announced in August 2025 the launch 
of a production line for 155mm modular charges in Poland, in Pionki (with a target of 100,000 units per year). 
Eurenco is supplying the technology and modular charge kit, while Mesko is responsible for local assembly 
using its own powders.
	
 The group entered into a strategic partnership with BAE Systems in September 2025 to establish a new 
155mm calibre ammunition plant in Poland by 2027-2028, which will be run by the Dezamet subsidiary. 
BAE Systems will provide technology transfers to PGZ.
Home market
	
 PGZ remains highly dependent on its domestic market (more than 80% of revenues). The group is a key partner 
for foreign players wishing to enter the Polish defence market.
	
 In December 2024, the Polish Army awarded the Rosomak subsidiary a contract worth PLN 4.3 billion 
(€947 million) for the supply of 80 KTO Rosomak-L 8x8 wheeled armoured vehicles, equipped with the ZSSW-30 
remote controlled weapon station from the Huta Stalowa Wola subsidiary, to be delivered in 2027-2028.
	
 Huta Stalowa Wola won a PLN 9 billion (€2 billion) contract in December 2024 from the Polish Army for the 
production by 2029 of 96 Krab 155mm self-propelled tracked howitzers, including 48 units in an upgraded 
version featuring a 360° observation system and a remote controlled weapon station armed with a 12.7mm 
calibre machine gun.
	
 In December 2024, Huta Stalowa Wola and Rosomak also signed a PLN 8 billion (€1.8 billion) contract with the 
Ministry of National Defence of Poland for the supply of more than 250 support vehicles for the K9A1 Thunder 
self-propelled howitzers (Hanwha) and training services. 
	
 In March 2025, the Polish Army ordered 111 Borsuk armoured infantry fighting vehicles from Huta Stalowa 
Wola for PLN 6.5 billion (€1.5 billion), to be delivered by 2029. Approximately 1,400 vehicles are to be procured, 
including more than 300 auxiliary vehicles. The five prototypes already delivered also entered service.
	
 The PGZ Stocznia Wojenna subsidiary began steel cutting for the second of three future Wicher-class frigates 
at the Gdynia shipyard in May 2025. The ship is expected to enter service in 2030.
	
 The Polish Armament Agency awarded a PLN 5.8 billion (€1.3 billion) contract in September 2025 to the PGZ-
NAREW consortium, which comprises 10 PGZ companies, to supply up to 46 passive radars for the Narew 
short-range air defence system by 2038.
Export markets
	
 The group generates less than 20% of its revenues from exports. Ukraine, South America, the Middle East and 
Southeast Asia are the main target markets for PGZ.	
	
 In March 2025, the Swedish Defence Materiel Administration (FMV) ordered an unspecified number of Piorun 
portable surface-to-air missiles from Mesko for SEK 3 billion (€262 million). Deliveries will begin in the first 
quarter of 2026.
Technology and Innovation
	
 PGZ is involved in the development of two future armoured vehicles: the NKTO wheeled personnel carrier (by 
Rosomak) and the CBWP tracked heavy IFV (by Huta Stalowa Wola), some of which are equipped with the 
ZSSW-30 remote controlled weapon station.
STRATEGIC HIGHLIGHTS