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%
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