Calepin des entreprises international 2026 VA.pdf — page 190

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SAFRAN
Business trends
	
 Safran adjusted revenues reached €27.3 billion in 2024, up 17.8% year-on-year. In the civil sector, growth was 
driven by services, while deliveries of LEAP engines fell by more than 10% year-on-year (1,407 engines in 
2024, compared with 1,570 in 2023). Defence activities also grew thanks to guidance systems, optronics and 
embedded systems. However, deliveries of M88 turbojet engines for Dassault Aviation’s Rafale fighter aircraft 
declined slightly (40 units in 2024, compared with 42 in 2023).	
	
 In February 2025, Safran inaugurated a production site for electronic cards and aeronautical and defence 
computers in Bangalore, India, including an electronics R&D centre. The plant will be operational in the first half 
of 2026 and will reach an annual production capacity of around 30,000 units and several hundred references 
by 2030.
	
 In June 2025, Avio Aero (a subsidiary of GE Aerospace) joined Safran and MTU Aero Engines  in the EURA 
(European Military Rotorcraft Engine Alliance) joint venture, which is responsible for developing the ENGHE 
propulsion system for future heavy military helicopters, scheduled to enter service by 2040. The workload will 
be divided equally between the three operators, but Avio Aero will not acquire a stake in EURA.
	
 In July 2025, Safran completed the acquisition of the activities of Collins Aerospace (part of RTX) in the 
production and maintenance of flight control and actuation systems for aircraft (civil and military) and 
helicopters for $1.8 billion (€1.7 billion). These activities employ approximately 4,000 people at eight main sites 
(in Saint-Ouen-l’Aumône and Vernon in France, Italy, the United Kingdom and Indonesia) and generate annual 
revenues of $1.55 billion (€1.43 billion).
Home market
	
 Safran indirectly benefits from several orders placed since 2020 as part of various French defence 
programmes, including 54 Rafale fighter aircraft for the French Air Force, 12 Falcon Albatros aircraft for the 
French Navy, 18 NH90 helicopters for the French Special Forces, and 356 Griffon VBMR and 88 Jaguar EBRC 
vehicles for the French Army.
	
 In November 2024, the group was selected to supply a new multi-mission parachute (PMM) to the French 
Armed Forces, as well as related services.	
	
 Airbus awarded a contract to Safran in June 2025 for the production of TT&C (tracking, telemetry and 
command) systems from its Syrlinks brand for the 100 satellites in Eutelsat’s low-orbit constellation.
Export markets
	
 Safran generated 81% of its revenue from exports in 2024, in particular through CFM International (its joint 
venture with GE Aerospace, specialising in passenger aircraft engines).
	
 In January 2025, Germany’s Federal Office of Bundeswehr Equipment (BAAINBw) ordered the latest 
generation of portable multifunction infrared binoculars from Safran.
	
 In February 2025, the group signed an agreement with the Finnish Defence Forces to supply Geonyx 
advanced inertial navigation systems for various Finnish artillery systems until 2031.
	
 In June 2025, Kongsberg renews its long-term partnership with Safran for the supply of several hundred T-40 
turbojets for the NSM anti-ship missile.
Technology and Innovation
	
 The group’s self-financed R&D expenditure amounted to €1,348 million in 2024, representing 4.9% of revenues.
	
 At the Paris Air Show in June 2025, the group announced that it was beginning development of a new version 
of the M88 turbojet engine for the future Rafale standard F5 fighter aircraft, the M88 T-REX, which will offer 
increased thrust of 9 tonnes with afterburner.
STRATEGIC HIGHLIGHTS