Broad demand for land and technology equipment boosts defence companies’ financial results
MilDef recently won a contract to provide rugged computers to Denmark. (Photo: MilDef)
Financial reporting season for the calendar year of 2024 has continued to show substantial growth for defence companies as countries across the world, particularly those in Europe, open the chequebook.
The announcement on 6 February of the financial results for Swedish technology company MilDef were a mirror reflection of positive trends being reported by dozens of companies across the defence industry, with one or two notable exceptions.
Other significant results and forecasts for land and technology defence companies reported in the last two weeks have included those of Northrop Grumman, Raytheon (part of RTX), L3Harris and Babcock International Group.
MilDef reported that its fourth quarter (Q4) in 2024 was its “strongest to date with order intake increasing by 89% to SEK773 million (US$73 million) and order backlog growing by 55%
Already have an account? Log in
Want to keep reading this article?
More from Defence Notes
-
![What will next-gen counter-UAS capabilities for the US look like?]()
What will next-gen counter-UAS capabilities for the US look like?
Future US counter-uncrewed aerial system solutions are likely to require a flexible, multi-layered approach to tackle a broad spectrum of new threats as they emerge.
-
![Elbit Systems awarded $2.3 billion contract as results soar]()
Elbit Systems awarded $2.3 billion contract as results soar
The company’s order backlog as of 30 September totalled $25.2 billion and more than a third of this is scheduled to be fulfilled before the end of 2026.
-
![US military foresees growing use of 3D printing]()
US military foresees growing use of 3D printing
Advanced manufacturing has evolved to meet military requirements and now supports multiple US critical assets, including Arleigh Burke-class destroyers, F-18, F-22, F-35, Bradley, HMMWV and Patriot.
-
![Irish Naval Service expands as the country looks to defence during EU presidency]()
Irish Naval Service expands as the country looks to defence during EU presidency
The Irish Naval Service has struggled to maintain capability, particularly in the face of lucrative private sector offers luring away personnel.
-
![Resilience, adaptiveness and collaboration vital for success in space (Studio)]()
Resilience, adaptiveness and collaboration vital for success in space (Studio)
Speakers at the Defence In Space Conference (DISC) 2025 highlighted the critical and evolving role of space in national security, defence and the global economy.
-
![Why the NORAD inventory might be the US and Canada’s Achilles’ heel]()
Why the NORAD inventory might be the US and Canada’s Achilles’ heel
Both the US and Canada operate Cold War-era capabilities which cannot defeat today’s and tomorrow’s threats.
