SAAB
Saab AB is a Swedish defence and security company that develops and supplies military aircraft, sensors, command-and-control systems, weapons, and underwater and naval systems. Its business is organized around major product areas such as Aeronautics, Dynamics, Surveillance, and Kockums, with customers in Sweden and a broad set of international markets.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueCombat aircraft, trainer aircraft, and related aeronautical systems.
Ground combat, missile, and weapon systems for military users.
Radar, sensors, command-and-control, and electronic warfare systems.
Naval combat systems, submarines, and underwater solutions.
Customers
Saab sells primarily to national defence forces, government agencies, and defence procurement organizations that buy mission-critical military equipment and systems. It also serves industrial partners and prime contractors in cooperative programs, such as aircraft and training solutions. Customers buy Saab’s products to strengthen air defence, surveillance, naval capability, and battlefield effectiveness.
Buy aircraft, sensors, missiles, and naval systems for operational capability.
Source military equipment and system upgrades through formal tenders and contracts.
Buy subsystems and participate in collaborative programs such as aircraft development.
Buy simulators and training solutions to improve readiness and reduce lifecycle cost.
Strategy
Saab’s strategy centers on scaling production capacity, expanding in selected strategic markets, and investing in future capabilities such as software-defined systems, autonomy, and AI. The company also emphasizes digital transformation, supply-chain resilience, and workforce development to support long-cycle defence programs and maintain competitiveness.
Long-cycle defence contracts require reliable industrial capacity and on-time delivery.
Local presence and partnerships improve access to defence budgets and procurement channels.
R&D in software, autonomy, and AI supports next-generation defence platforms.
Skilled engineers and project teams are essential for complex defence development and execution.
Geography
Saab is headquartered in Sweden and has major industrial and engineering activity there, while also operating in the U.K., the U.S., Australia, Germany, Finland, India, and other strategic markets. The company’s business is international, with more than half of sales outside Sweden, and geography matters because defence demand, export controls, and local industrial partnerships shape where Saab can sell and produce. Its footprint includes production expansion in Sweden, the U.K., the U.S., Finland, and India to support delivery capacity and local market access.
Risks
Saab faces geopolitical, regulatory, and execution risks because most of its revenue comes from regulated defence materiel and long-term customer programs. The company is also exposed to supply-chain disruption, cyber and site security risks, export controls, sanctions, and customer-specific due diligence requirements tied to responsible sales and anti-corruption controls.
- Geopolitical conflict and sanctions exposureImpact: HighLikelihood: Medium
Defence demand, customer access, and supplier continuity are affected by wars and sanctions regimes.
Exposure - Execution risk on long-term customer projectsImpact: HighLikelihood: Medium
Complex development programs can face technical, schedule, and contract-management issues.
Exposure - Supply-chain disruptionImpact: MediumLikelihood: Medium
Limited supplier bases and international sourcing can create bottlenecks and delays.
Exposure: Critical components and selected suppliers in conflict-affected regions
- Responsible sales and anti-corruption complianceImpact: MediumLikelihood: Low
Defence sales require enhanced due diligence, approvals, and monitoring of intermediaries.
Exposure
Accounting
Judgemental itemsMany programs include development aspects and require judgment on progress and margins.
Impact: Can shift revenue and profit recognition across periods
Defence and commercial counterparties are assessed individually for default risk.
Impact: Affects provisions and reported operating profit
Foreign subsidiaries are translated into SEK using closing and average rates.
Impact: Creates translation differences in OCI and affects comparability
Development spending may be expensed or capitalized depending on criteria.
Impact: Influences operating expenses, assets, and future amortization
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Last updated: 24/09/2026