Dassault Aviation 2025 Results Show Rafale Growth and Falcon Supply Challenges

This article is based on an official press release from Dassault Aviation.

Dassault Aviation Reports Mixed 2025 Figures: Rafale Surges While Falcon Faces Supply Headwinds

Dassault Aviation has released its preliminary operational figures for the full year 2025, presenting a financial landscape defined by strong military performance and persistent challenges in the civil aviation sector. According to the official data released on January 7, 2026, the French aerospace manufacturers exceeded its delivery targets for the Rafale fighter jet but fell short of its guidance for Falcon business jets.

Despite the mixed operational results, the company reported year-over-year growth in deliveries for both its military and civil programs. Buoyed by the delivery of 26 Rafale fighters and a significant export contract with the Indian Navy, Dassault Aviation has updated its financial outlook. The company announced it has raised its 2025 net sales guidance to exceed €7 billion, an increase over the previous year’s €6.2 billion revenue.

Rafale Program: Export Success Drives Growth

The Rafale program continues to serve as the primary stabilizer for Dassault Aviation. The manufacturer reported delivering 26 Rafale aircraft in 2025, slightly exceeding its target of 25 units. This represents a 24% increase compared to the 21 units delivered in 2024.

Data provided by the company highlights a significant shift toward international markets. Of the 26 fighters delivered, 15 were for export customers, while 11 were delivered to France. This marks a sharp contrast to 2024, when export deliveries totaled only seven units.

Order Intake and Backlog

In terms of new business, the company secured orders for 26 Rafale aircraft in 2025. According to the release, these orders are attributed entirely to the contract for 26 Rafale Marine jets for the Indian Navy, which officially entered into force in May 2025. This deal marks a historic milestone as the first export customer for the carrier-borne variant of the fighter.

The backlog for the Rafale remains robust. As of December 31, 2025, the total backlog stood at 220 aircraft, unchanged from the previous year. The composition of this backlog, however, has shifted further toward international clients, with export units now accounting for approximately 80% of the total.

Falcon Business Jets: Progress Amidst Constraints

The civil aviation segment showed growth but highlighted ongoing industrial friction. Dassault Aviation delivered 37 Falcon business jets in 2025, an increase of six units compared to 2024. However, this figure fell short of the company’s published guidance of 40 aircraft.

The company attributed the missed target to supply chain difficulties, a challenge that has plagued the broader aerospace sector since the post-pandemic recovery began. Specifically, inefficiencies in the aerostructure supply chain were noted as contributing factors.

Commercial Momentum

Despite the delivery shortfall, commercial demand for the Falcon line appears resilient. The manufacturer booked 31 new Falcon orders in 2025, a 19% increase over the 26 orders recorded in 2024. Due to deliveries outpacing new orders, the Falcon backlog decreased slightly from 79 units in 2024 to 73 units at the close of 2025.

AirPro News Analysis

The 2025 figures underscore a diverging reality for Dassault Aviation: the defense sector is currently shielding the company from the volatility of the civil supply chain. The stability of the Rafale backlog, locked in at 220 units, provides the manufacturer with nearly a decade of production visibility. This is critical as it allows Dassault to maintain revenue flow while navigating the “stop-and-go” nature of current civil aerospace supply lines.

The missed Falcon target is not unique to Dassault; it reflects a broader industry struggle to ramp up production rates to meet recovering demand. However, the increase in Falcon order intake (31 vs. 26) suggests that the market appetite for business jets has not been dampened by economic uncertainty, providing a positive signal for the medium term once supply bottlenecks ease.

Upcoming Financial Disclosures

Following the release of these preliminary figures, Dassault Aviation confirmed that it will publish its full audited annual results on March 4, 2026. The raised sales guidance of over €7 billion suggests confidence in the company’s pricing power and the revenue recognition from the higher volume of Rafale deliveries.

Frequently Asked Questions

Did Dassault Aviation meet its 2025 delivery targets?
Results were mixed. The company exceeded its target for Rafale fighters (delivering 26 against a target of 25) but missed its target for Falcon business jets (delivering 37 against a target of 40).

What drove the new orders for the Rafale in 2025?
The 26 new Rafale orders recorded in 2025 are entirely attributed to the Indian Navy’s contract for the Rafale Marine variant.

How does the current backlog look?
As of December 31, 2025, the backlog stands at 220 Rafale aircraft and 73 Falcon business jets.

Sources

• Dassault Aviation Press Release: Deliveries, order intakes and backlog as of December 31, 2025