Defense & Military
Saab AB AGM 2026 Approves Dividend Increase and Reports Strong Backlog
Saab AB’s 2026 AGM approved a SEK 2.40 dividend, re-elected board members, and highlighted a SEK 275 billion order backlog with new defense contracts.

This article is based on an official press release from Saab AB.
On April 1, 2026, Swedish aerospace and defense manufacturers Saab AB held its Annual General Meeting (AGM) in Linköping, Sweden. As we review the outcomes of this meeting, it is clear that the company is navigating a period of historic growth, fueled by heightened global geopolitical tensions and a surge in European defense spending.
According to an official press release from Saab, shareholders approved a dividend increase, re-elected the existing board leadership, and voted on complex future employee incentive programs. Concurrently, supplementary industry data highlights Saab’s expanding market presence, underscored by major domestic and international defense contracts, structural reorganizations, and strategic artificial intelligence partnerships.
2026 Annual General Meeting Highlights
Dividends and Board Continuity
During the AGM, shareholders officially approved the Parent Company’s and the Consolidated Income Statement and Balance Sheet for the 2025 financial year. In a move reflecting the company’s strong financial health, a dividend payout of SEK 2.40 per share was approved. The press release notes that this will be distributed in two equal installments of SEK 1.20.
The first installment has a record date of April 7, 2026, with payment expected on April 10. The second installment’s record date is set for October 6, 2026, with payment scheduled for October 9.
Leadership continuity was also a key theme at the meeting. The board and CEO Micael Johansson were granted discharge from liability. Furthermore, all existing board members were re-elected, including Marcus Wallenberg as Chairman of the Board and Bert Nordberg as Deputy Chairman. Öhrlings PricewaterhouseCoopers AB was appointed as the company’s auditor until 2027.
Shareholder Pushback on Incentive Funding
The meeting also addressed future compensation structures. Shareholders approved the Revised Long-term Incentive Program 2026 (LTI 2026), which comprises up to 1,466,000 Series B shares, and authorized the board to acquire these shares to secure delivery to participants. Additionally, the Long-term Incentive Program 2027 (LTI 2027) for up to 1,626,000 shares was approved.
However, in a notable corporate governance development, shareholders rejected the Board’s proposal to authorize direct share buybacks for the LTI 2027 program. Instead, according to the official release, they approved an equity swap agreement with a third party to hedge the financial exposure of the program.
Financial Posture and Strategic Growth
Backlog and Upgraded Targets
Saab’s financial posture is currently characterized by massive backlog growth. Industry research indicates that Saab’s order backlog has grown by nearly 50% to an impressive SEK 275 billion (approximately $30 billion USD). This backlog covers roughly 3.5 times the company’s 2025 sales.
In response to this unprecedented demand, the company recently revised its medium-term targets upward. The Compound Annual Growth Rate (CAGR) target for the 2023–2027 period was increased from 18% to 22%. As of early April 2026, market data places Saab’s market capitalization between SEK 333 billion and SEK 360 billion.
Recent Contract Wins and Restructuring
Saab’s momentum extends beyond the boardroom. Just a day after the AGM, on April 2, 2026, Saab announced a SEK 2.6 billion order from the Swedish Defence Materiel Administration (FMV). This contract is for a mobile, modular counter-unmanned aerial system (C-UAS) designed to protect military and civil infrastructure from drone threats, with deliveries scheduled for 2027–2028.
Additionally, in March 2026, Saab announced the consolidation of its naval operations into a single business area named “Naval” to improve operational efficiency. The company also signed a Memorandum of Understanding with Canadian AI leader Cohere to collaborate on advanced AI applications, and partnered with the Kyiv School of Economics to research unmanned aerial systems and microelectronics.
AirPro News analysis
We observe that Saab is currently operating in a highly favorable macroeconomic environment for defense contractors. The rejection of the direct share buyback for the 2027 Incentive Program in favor of a third-party equity swap is a nuanced corporate governance angle. It highlights active, sophisticated shareholder involvement in the company’s financial mechanics, ensuring that equity dilution and capital allocation are tightly managed.
Furthermore, while financial analysts note that Saab’s stock valuation is currently high, trading at elevated EV/EBITDA multiples, this premium appears supported by long-term market realities.
“The premium is justified by the duration of elevated earnings,” according to industry financial analysts reviewing the stock.
The ongoing geopolitical shift ensures that Saab’s revenue visibility extends well into the late 2020s. As newer programs mature and production ramps up, we anticipate significant EBIT (Earnings Before Interest and Taxes) margin expansion, with profit growth likely outpacing raw sales growth.
Frequently Asked Questions (FAQ)
What was the approved dividend at the Saab 2026 AGM?
Shareholders approved a dividend of SEK 2.40 per share, to be paid in two equal installments of SEK 1.20 in April and October 2026.
Who is the current Chairman of Saab AB?
Marcus Wallenberg was re-elected as Chairman of the Board during the 2026 AGM.
What is Saab’s current order backlog?
According to recent industry data, Saab’s order backlog stands at approximately SEK 275 billion, which is roughly 3.5 times its 2025 sales.
How did shareholders vote on the 2027 Incentive Program funding?
Shareholders rejected a direct share buyback proposal for the LTI 2027 program, opting instead for a third-party equity swap agreement to hedge financial exposure.
Sources: Saab AB Official Press Release
Photo Credit: Saab
Defense & Military
Pratt Whitney Completes 3D-Printed TJ150 Turbojet Demo Test
Pratt & Whitney validates additive manufacturing for the TJ150, consolidating 50+ hot section parts into 3D-printed components.

Pratt & Whitney has successfully completed demonstration testing of an additively manufactured TJ150 turbojet engine, a process that consolidated more than 50 individual hot section components into a small number of 3D-printed parts.
The RTX Corporation subsidiary announced the milestone on July 20, 2026, during the Farnborough International Airshow in London. The test results validate the manufacturer’s strategy to use additive manufacturing to simplify design and accelerate production for expendable military propulsion systems.
Consolidating hot section components
According to the press release, nearly 60 percent of the TJ150 engine’s volume was produced using additive manufacturing. This volume includes major static and rotating hardware. By utilizing 3D printing technologies, engineers reduced the complexity of the engine’s hot section and replaced over 50 traditional parts with a handful of consolidated components.
The TJ150 is a 150-pound thrust class turbojet designed for single-use applications.
“For expendable engines like the TJ150, where missions can last minutes or hours, simplifying the design and scaling production quickly is essential to meeting rising demand,” said Jill Albertelli, President of Military Engines at Pratt & Whitney.
Integration with cruise missiles and decoys
The successful demonstration of the 3D-printed TJ150 follows recent contract awards and integration announcements for the engine platform. On March 10, 2026, Pratt & Whitney secured a follow-on contract from Leidos Dynetics to supply TJ150 engines for the AGM-190A small cruise missile.
In a separate announcement on July 15, 2026, Raytheon confirmed plans to prioritize the TJ150 engine for the initial production of the Miniature Air-Launched Decoy (MALD). Raytheon noted that utilizing the existing engine platform keeps restart timelines short while the company explores additively manufactured engines for longer-term opportunities.
Expanding additive manufacturing applications
Pratt & Whitney plans to apply the manufacturing techniques validated during the TJ150 demonstration to other propulsion programs. Albertelli stated that additive manufacturing helps the company move designs from concept to capability faster. She confirmed that the manufacturer is leveraging the TJ150 learnings to benefit other systems, including the Pratt & Whitney Valox engine family.
AirPro News analysis
The successful test of a heavily 3D-printed TJ150 highlights a critical shift in defense aerospace manufacturing. As military operators demand higher volumes of autonomous systems, decoys, and tactical missiles, traditional supply chains for small turbine engines face significant bottlenecks. Casting and machining conventional hot-section components requires extensive tooling and long lead times. By consolidating dozens of parts into a few additively manufactured pieces, we see manufacturers directly addressing the need for rapid scalability.
Expendable engines operate for very short durations, meaning they do not require the same long-term durability as commercial or manned military turbofans. This specific operational profile makes them ideal candidates for additive manufacturing, allowing producers to prioritize production speed and cost reduction over thousands of hours of time-on-wing reliability.
Photo Credit: RTX
Defense & Military
GE Aerospace and Magellan Sign F414 MRO MOU for Canada
GE Aerospace and Magellan Aerospace signed an MOU at Farnborough to establish a Canadian F414 engine MRO center if Canada selects the Gripen E.

GE Aerospace and Magellan Aerospace Corporation signed a Memorandum of Understanding (MOU) on July 22, 2026, at the Farnborough International Airshow to establish a Canadian MRO center for the F414-GE-39E engine. The agreement is entirely contingent on the Government of Canada selecting the Saab JAS 39 Gripen E for its future fighter fleet.
Announced in a GE Aerospace press release, the proposed MRO work would take place at Magellan’s facility in Mississauga, Ontario. The partnership aims to position Magellan as Canada’s domestic center of excellence for F414 engine sustainment, guaranteeing sovereign support capabilities for the Royal Canadian Air Force (RCAF) if the Gripen E is acquired.
Industrial offsets and the Gripen E campaign
The MOU represents a calculated component of a broader industrial offset campaign by Saab AB and its suppliers to secure a portion of Canada’s fighter procurement contract. The Canadian government is currently reviewing its fighter jet strategy. While Ottawa previously committed to purchasing a fleet of 88 Lockheed Martin F-35A Lightning II Military-Aircraft, the government is evaluating a potential mixed fleet that could include domestically built Gripen E fighters.
To strengthen the Gripen’s bid, Saab has been securing agreements with Canadian aerospace firms to promise domestic job creation and technology transfer. This engine sustainment agreement follows a similar MOU signed on July 17, 2026, between Saab and Canadian aviation training firm CAE Inc. to cooperate on advanced fighter pilot Training.
Engine sustainment and domestic capabilities
The F414 engine family has accumulated more than 5 million flight hours globally. The new agreement builds on a 60-year working relationship between GE Aerospace and Magellan Aerospace Corporation.
Paul Ferraro, Vice President of Defense Engines & Services at GE Aerospace, stated that the agreement spans both military and commercial engines and will ensure the RCAF has in-country access to sustainment services to maintain F414 readiness.
Haydn Martin, Vice President of Business Development, Marketing, and Contracts at Magellan Aerospace Corporation, emphasized the operational benefits of the proposed partnership.
“Should the Saab JAS 39 Gripen E aircraft be selected, Magellan Aerospace will be ready to provide world-class engine maintenance, repair and overhaul services that enhance operational readiness for the Royal Canadian Air Force while maintaining highly skilled Canadian jobs, developing advanced technical expertise, and strengthening Canada’s long-term defence industrial capacity,” Martin said.
AirPro News analysis
We view this MOU as a clear signal that the competition for Canada’s fighter fleet remains highly active despite the initial F-35A selection. By lining up domestic heavyweights like Magellan and CAE, Saab is directly addressing Ottawa’s stringent Industrial and Technological Benefits (ITB) policy requirements. If the Government of Canada opts for a mixed fleet, establishing sovereign MRO capabilities for the F414 engine will be a critical factor in mitigating supply chain risks and ensuring RCAF operational independence. Until a formal procurement decision is finalized, these agreements remain strategic positioning rather than guaranteed Contracts.
Sources: GE Aerospace
Photo Credit: GE Aerospace
Defense & Military
CBP AMO Orders 10 Airbus H125 Helicopters for Fleet Expansion
CBP Air and Marine Operations contracts for 10 Airbus H125 helicopters, expanding a 30-year fleet of over 100 rotary-wing aircraft.

U.S. Customs and Border Protection Air and Marine Operations (CBP AMO) has finalized a contract to acquire 10 additional Airbus H125 helicopters, expanding a fleet modernization effort that relies heavily on the single-engine platform for border security and law enforcement missions.
In a press release issued on July 7, 2026, Airbus confirmed the agreement, which reinforces a three-decade relationship between the federal agency and the aerospace manufacturer. The new helicopters will be assembled at the Airbus Helicopters production facility in Columbus, Mississippi.
Expanding the airborne law enforcement fleet
The latest acquisition builds upon a previous order placed in August 2020, when CBP AMO contracted for 16 H125 helicopters to upgrade its aging rotary-wing assets. The agency currently operates a total fleet of more than 240 aircraft, which includes over 100 helicopters from the Airbus H120 and H125 families delivered over the past 30 years.
The H125, formerly known as the Eurocopter AS350, is utilized by CBP AMO for a variety of demanding flight profiles, including border surveillance, suspect pursuit, and general public safety operations across the United States.
Bart Reijnen, Head of the North America Region for Airbus Helicopters, stated that the expansion “underscores the long-standing collaboration” between the manufacturer and the federal agency. He added that the selection highlights the trust placed in the H125 to execute critical public safety missions under demanding conditions, with Airbus committing to provide comprehensive services to maintain mission readiness.
Virtual reality integration for pilot training
As CBP AMO increases its H125 inventory, the agency is simultaneously overhauling how it trains the personnel who fly them. In November 2025, CBP became the first federal law enforcement agency and the first branch of the U.S. Department of Homeland Security (DHS) to integrate virtual reality into its aerial training program.
According to reporting by FLYING Magazine, the agency awarded a contract to adopt an FAA-qualified Airbus H125 virtual reality flight simulator developed by Loft Dynamics. The simulator is being installed at the CBP AMO training center in Oklahoma City, where it will be used to train the agency’s roster of more than 600 pilots.
AirPro News analysis
We view CBP AMO’s continued investment in the H125 platform as a clear indicator of the agency’s preference for fleet commonality. Operating a standardized fleet of over 100 H125-family helicopters significantly reduces maintenance overhead, streamlines supply chains, and simplifies pilot transition training. Furthermore, Airbus’s strategy of assembling these aircraft in Columbus, Mississippi, likely plays a crucial role in navigating federal procurement requirements, ensuring that the European manufacturer remains highly competitive for U.S. government contracts. The parallel investment in Loft Dynamics’ VR simulators suggests the agency is preparing for a sustained, long-term operational lifespan for the H125 fleet.
Sources: Airbus
Photo Credit: Airbus
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