Companies’ results boom as countries dig deep to buy missiles and air defence systems
Denmark’s order of CAVS was a third quarter highlight for Patria. (Photo: Patria)
Air defence systems are continuing to appear top of countries’ shopping lists but broadly across different capabilities it is a sellers’ market, as demonstrated by backlogs and double-digit percentage point growth.
Across the world, defence companies have filed strong Q3 2025 results as countries invest the money from increased defence budgets and rosy future balance sheets beckon as long-term spending plans come to fruition.
Thales, Raytheon, Singapore Technologies Engineering (ST Engineering), Patria and HII have reported their third quarter and nine-month results in the past weeks with all of them showing healthy figures alongside growing backlogs.
Patria reflected the wider European vehicle market, reporting net sales in the Q3 2025 of €248.3 million (US$287 million), representing a 53.1% increase over the same period in 2024. Net sales for 2025 were €669.2
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