Defence companies continue to ride procurement wave
Sweden’s MilDef has seen revenues grow through supplying subsystems to vehicles such as BvS10. (Photo: BAE Systems)
Vehicle and technology companies are reporting substantial growth compared to the first half of 2024. Italy’s Fincantieri saw revenues jump 24% for the first half of the year compared to 2024 and Thales up 6.8% for the same period. General Dynamics reported second quarter revenue growth of 8.9% for the second quarter compared to last year and MilDef reported organic order intake growth of 58%.
Defence companies are continuing to reap the rewards of growing expenditure in NATO and EU countries with positive results across the board and one company predicting “high demand in the second half of 2025”.
Company officials pointed to growing demand through increased defence expenditure and one-off ringfenced spending boosts in an uncertain geopolitical environment in Europe, Africa and the Middle East.
General Dynamics (GD), with its ship and vehicle divisions, was indicative of company trends. GD’s 2Q 2025 operating earnings of US$1.3 billion on revenue of $13 billion, representing an increase of 8.9% on 2Q 2024 and similarly its revenue
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