Defense & Military
Saab Reports Record 2025 Orders and Upgrades Growth Targets
Saab achieved record 2025 order bookings, raising growth targets with major contracts in Colombia, France, and Sweden boosting backlog to SEK 275 billion.

This article is based on an official press release from Saab.
Saab Reports Historic 2025 Results: Record Orders Drive Growth Target Upgrade
Swedish defense and security company Saab has released its Year-End Report for 2025, detailing a historic period of financial performance driven by heightened global geopolitical tensions and a surge in European defense spending. According to the company’s official figures, Saab secured record-breaking orders in the fourth quarter alone, prompting management to significantly upgrade its medium-term growth targets for the 2023–2027 period.
The report highlights a dramatic increase in demand across Saab’s portfolio, ranging from advanced fighter jets to naval systems and surveillance solutions. With a total order backlog now reaching SEK 275 billion, the company is positioning itself to meet sustained demand through the latter half of the decade. In a statement accompanying the release, Saab President and CEO Micael Johansson emphasized the company’s strong execution during a volatile year.
“2025 was a record year for Saab… We have had much stronger sales for the first three years of the target range and for the remaining two years this implies an average growth of around 20% per year.”
, Micael Johansson, President and CEO of Saab
Financial Highlights and Record Bookings
The fourth quarter of 2025 proved to be a pivotal period for the company. According to the financial results, Saab recorded SEK 100.1 billion in order bookings during Q4, contributing to a full-year total of SEK 168.5 billion, a 74% increase year-over-year. This surge has pushed the company’s total order backlog to SEK 275 billion, providing significant revenue visibility for the coming years.
Key financial metrics for the full year 2025 include:
- Sales Revenue: SEK 79.1 billion (up 24%).
- Operating Income (EBIT): SEK 8.1 billion (up 42%), with a margin of 10.2%.
- Net Income: SEK 6.4 billion (up 51%).
- Proposed Dividend: SEK 2.40 per share, an increase from SEK 2.00 the previous year.
Based on these results, Saab has revised its organic sales growth target. The company now aims for a compound annual growth rate (CAGR) of approximately 22% for the period 2023–2027, an upgrade from the previous target of roughly 18%.
Strategic Wins: The “Mega-Deals”
The massive influx of orders in late 2025 was driven by three major strategic contracts that validate Saab’s technology across air, sea, and surveillance domains. The press release and subsequent reporting highlight the following key agreements:
Colombia Selects Gripen
In a significant export victory, the Colombian government selected the Gripen E/F fighter system. The contract, valued at approximately EUR 3.1 billion (SEK 35 billion), covers the delivery of 17 aircraft. This deal establishes a long-term strategic partnership in South America and marks a successful expansion of the Gripen program against international competitors.
Surveillance and Naval Dominance
Saab also secured a breakthrough in the European NATO market with an order from France for two GlobalEye Airborne Early Warning & Control (AEW&C) aircraft, valued at SEK 12.3 billion. Additionally, the Swedish Defence Materiel Administration (FMV) awarded Saab a SEK 9.6 billion contract to complete and deliver two Blekinge-class (A26) submarines, ensuring the modernization of Sweden’s underwater capabilities through the 2030s.
AirPro News analysis
While the operational numbers are undeniably strong, the market reaction suggests a complex investment landscape. Despite beating expectations on earnings and revenue, Saab’s share price saw a slight decline immediately following the report. This “sell the news” reaction likely indicates that investors had already priced in a perfect execution scenario given the known geopolitical tailwinds.
Furthermore, the upgrade in growth targets to ~22% CAGR signals management’s confidence that the current “defense boom” is not a temporary spike but a structural shift in European security architecture. The success of the GlobalEye in France is particularly noteworthy; it represents a shift toward European strategic autonomy, where major NATO powers are increasingly opting for continental solutions over non-European alternatives. The challenge for Saab now shifts from winning orders to industrial execution, specifically, managing supply chains and expanding workforce capacity to deliver on a SEK 275 billion backlog.
Sustainability and Future Outlook
Beyond financial metrics, Saab reported progress on its sustainability goals. The company achieved a 7% reduction in CO2 emissions year-over-year, remaining on track for its 2030 target of a 42% reduction. Looking ahead to 2026, the company stated it is heavily investing in capacity expansion, including new production facilities in the United States, Sweden, and India.
CEO Micael Johansson noted that while the geopolitical landscape remains uncertain, this instability is driving a sustained global demand for deterrence capabilities. The company’s focus will now prioritize the efficient conversion of its record backlog into delivered systems.
Sources
Photo Credit: Christopher Pike – Reuters
Defense & Military
IAF Issues RFI for 150 Advanced Jet Trainers to Replace Hawk Fleet
India’s IAF seeks 150 next-generation Stage-III jet trainers worth ₹15,000 crore to replace aging Hawk Mk-132 aircraft.

The Indian Air Force (IAF) and the Ministry of Defence (MoD) have initiated a procurement program to acquire approximately 150 next-generation Stage-III advanced jet trainers, issuing a Request for Information (RFI) to global and domestic aerospace manufacturers in mid-August 2026. The estimated ₹15,000 crore project aims to replace the IAF’s aging fleet of BAE Systems Hawk Mk-132 aircraft and modernize the final training pipeline for pilots transitioning to 4.5 and fifth-generation combat platforms.
According to reporting by The New Indian Express, vendors have until October 5, 2026, to submit their responses to the RFI. The MoD is targeting December 2027 for the issuance of a formal Request for Proposal (RFP). The procurement falls under India’s Defence Acquisition Procedure (DAP) 2020 “Buy (Indian) or better” category, which mandates significant domestic manufacturing, technology transfer, and supply chain integration.
Replacing the Hawk Mk-132 fleet
The IAF currently relies on the BAE Systems Hawk Mk-132 for Stage-III training, a platform that entered Indian service in February 2008. Defence Standard reports that the global production line for the Hawk has closed, preventing the IAF from acquiring additional airframes of the same type to meet its training requirements.
The urgency of the procurement is underscored by current operational shortfalls. Aerospace Global News notes that the IAF is operating with 29 fighter squadrons against an authorized strength of 42.5. Streamlining the pilot training pipeline is viewed as a critical step in getting aviators into operational squadrons more rapidly.
The RFI outlines stringent technical requirements for the new trainers. The IAF mandates advanced capabilities including fly-by-wire flight controls, embedded virtual avionics, electronic warfare (EW) simulation, and Live-Virtual-Constructive (LVC) training systems. These features are designed to prepare trainees for the sensor-heavy environments of modern combat aircraft, such as the Dassault Rafale, Hindustan Aeronautics Limited (HAL) Tejas, and the future Advanced Medium Combat Aircraft (AMCA).
Potential contenders and industrial requirements
While the IAF has not officially shortlisted any platforms during this preliminary market-sounding phase, defense analysts have identified several likely contenders. These include the HAL HLFT-42, the Boeing-Saab T-7A Red Hawk, the Korea Aerospace Industries (KAI) T-50 Golden Eagle, and the Leonardo M-346 Master.
International manufacturers are already signaling interest in the program. In a statement provided to the Halldale Group, a Leonardo spokesperson confirmed the company is “closely assessing the Indian Air Force advanced trainer fleet modernisation plan and national industrial collaboration opportunities.”
The RFI stipulates a strict delivery timeline. According to The New Indian Express, the selected vendor must complete the delivery of all 150 aircraft within 60 months of the contract signature. The first new trainer aircraft are projected to reach IAF flying training bases in the mid-2030s.
AirPro News analysis
We view the IAF’s insistence on the “Buy (Indian) or better” category as the defining hurdle for foreign original equipment manufacturers (OEMs) in this competition. Platforms like the T-7A Red Hawk or the M-346 Master offer the LVC and embedded training capabilities the IAF requires, but winning the ₹15,000 crore contract will depend entirely on a vendor’s willingness to transfer technology and establish a deep manufacturing footprint within India. HAL’s indigenous HLFT-42 concept holds a natural home-field advantage under the current defense procurement framework, though it remains in the developmental stage compared to the proven, off-the-shelf alternatives from Boeing, KAI, and Leonardo.
Sources: The New Indian Express
Photo Credit: IAF
Defense & Military
US Approves $2.3B Black Hawk Sale to Norway for 21 UH-60M
The U.S. State Department approved a $2.3B sale of 21 Sikorsky UH-60M Black Hawks to Norway, replacing a prior HH-60W order.

The U.S. Department of State has approved a potential $2.3 billion Foreign Military Sale to the Government of Norway for up to 21 Sikorsky UH-60M Black Hawk helicopters. The August 21, 2026 authorization marks a strategic pivot for the Norwegian Armed Forces, which previously planned to acquire a smaller fleet of specialized combat rescue rotorcraft.
Announced by the Defense Security Cooperation Agency (DSCA) under Transmittal 26-83, the proposed package includes the airframes, 46 General Electric T700-GE-701D engines, and extensive defensive and communication suites. The acquisition is designed to enhance Norway’s tactical air mobility across its Arctic territory and border regions, replacing the Royal Norwegian Air Force’s aging fleet of 18 Bell 412 helicopters.
Shifting from specialized rescue to multi-role utility
The approval officially reverses a July 11, 2025 decision in which the U.S. State Department cleared a $2.6 billion sale of nine Sikorsky HH-60W Jolly Green II helicopters to Norway. The HH-60W is heavily optimized for combat search and rescue missions.
By opting instead for 21 UH-60M variants, Norway prioritizes volume and multi-role utility over specialized rescue capabilities. The larger fleet will provide increased capacity for troop transport, medical evacuation, and equipment movement in demanding Arctic environments.
Equipment package and implementation details
The $2.3 billion ceiling covers a comprehensive suite of avionics, defensive countermeasures, and weaponry. According to the DSCA press release, the package includes 25 sets of AN/AAR-57 Common Missile Warning Systems, Common Infrared Countermeasures (CIRCM), and AN/APR-39E(V)2 Radar Warning Receivers.
Navigation and communication upgrades feature 50 EAGLE-M+429 embedded Global Positioning Systems and Inertial Navigation Systems, alongside 100 AN/ARC-231A radios. The authorization also includes 18 M240H machine guns. Lockheed Martin Corporation’s Sikorsky division in Stratford, Connecticut, will serve as the principal contractor. The DSCA noted that approximately 15 U.S. government and contractor representatives will travel to Norway to support equipment fielding and training.
Rebuilding Norway’s military helicopter operations
The UH-60M acquisition is part of a broader restructuring of Norway’s military helicopter operations following the collapse of its NHIndustries NH90 program. In June 2022, the Norwegian government terminated the NH90 contract and grounded the fleet, citing severe operational delays and low availability rates.
Since the NH90 cancellation, Norway has increasingly turned to U.S. manufacturers to fulfill its rotary-wing requirements. In addition to the newly approved Black Hawks, Norway initiated a plan in 2023 to purchase six Sikorsky MH-60R Seahawk helicopters for maritime operations.
AirPro News analysis
We view Norway’s pivot from the HH-60W to the UH-60M as a pragmatic alignment of procurement with geographic realities. While the HH-60W offers superior survivability in contested airspace, a fleet of only nine airframes would have severely limited operational availability across Norway’s extensive landmass. Securing 21 UH-60M airframes for a lower estimated maximum cost provides the Royal Norwegian Air Force with the necessary density to maintain continuous tactical mobility along NATO’s northern flank. Standardizing on the H-60 family for both land and maritime operations will likely yield long-term maintenance and training efficiencies.
Sources: U.S. Department of State
Photo Credit: Lockheed Martin
Defense & Military
T625 GÖKBEY Expands to Turkish Land Forces and Saudi Arabia
Turkish Aerospace Industries delivers GÖKBEY to Land Forces and signs a joint production MOU with Saudi Arabia in 2026.

Turkish Aerospace Industries (TUSAŞ) is accelerating the deployment of its T625 GÖKBEY utility helicopter, transitioning from initial deliveries to the General Command of the Gendarmerie into broader service with the Turkish Land Forces Command and international partners.
Following the delivery of the fourth GÖKBEY to the Gendarmerie on August 25, 2025, the manufacturer has expanded the platform’s operational footprint. A second production batch of 57 airframes, ordered in July 2025, is now feeding deliveries to multiple branches of the Turkish security apparatus, supporting the national objective of a fully independent defense industry.
Domestic fleet expansion
The GÖKBEY program, initiated on June 26, 2013, under a contract with the Presidency of Defence Industries (SSB), reached a steady production cadence throughout 2024 and 2025. The General Command of the Gendarmerie received its first unit on October 29, 2024, followed by subsequent deliveries in December 2024, January 14, 2025, and August 25, 2025.
In a press release marking the fourth delivery, Turkish Aerospace Industries highlighted the strategic intent behind the program:
Designed and manufactured with Turkish Aerospace’s national engineering capabilities, GÖKBEY continues to contribute to the vision of a fully independent defense industry by enhancing the operational power of our security forces.
The platform’s user base expanded on April 30, 2026, when the Turkish Land Forces Command received its first T625 GÖKBEY. According to reporting by Janes, this delivery is part of a larger 57-unit order intended for the national armed forces, gendarmerie, and coast guard. Turkish Aerospace Industries plans to deliver more than 20 helicopters to various domestic institutions by the end of 2026.
Civilian and parapublic applications are also advancing. Helis.com reported on April 6, 2026, that an air ambulance variant is nearing service entry. The Turkish Ministry of Health is expected to receive three of these specialized helicopters by late 2026.
Technical specifications and export agreements
The T625 GÖKBEY is a multi-role platform with a maximum take-off weight of 6,050 kilograms and a capacity for 12 passengers. A critical milestone for the program occurred on April 19, 2023, when the helicopter completed its first test flight powered by the domestically produced TEI-TS1400 turboshaft engine, developed by TUSAŞ Engine Industries (TEI).
The integration of a domestic powerplant has facilitated international marketing efforts. On February 10, 2026, Turkey and Saudi Arabia signed a memorandum of understanding to jointly produce the GÖKBEY helicopter in Saudi Arabia. Turkish Minute reported that this agreement marks the first major international industrial partnership for the platform.
AirPro News analysis
We view the T625 GÖKBEY program as a cornerstone of Türkiye’s strategy to eliminate reliance on foreign aerospace suppliers. The successful integration of the TEI-TS1400 engine is the most consequential technical achievement of the program. By removing foreign-sourced critical components, Turkish Aerospace Industries bypasses potential export controls and end-user restrictions that have historically complicated defense sales. The joint production memorandum with Saudi Arabia demonstrates the immediate commercial viability of this strategy, positioning the GÖKBEY as a competitive alternative in the global medium-utility helicopter market.
Sources: Turkish Aerospace Industries
Photo Credit: Turkish Aerospace Industries
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