23 Oct 25. Safran hikes forecasts after strong Q3 for jet engine services. French aerospace group Safran raised full-year forecasts on Friday as it posted higher-than-expected third-quarter revenues, led by its core jet engine division.
The company, which co-produces LEAP jet engines with GE Aerospace through their CFM venture, said it had achieved a “strong catch-up” on delayed deliveries in the quarter, shipping more than in any previous quarter.
Safran said its third-quarter revenue rose 18.3% to 7.85bn euros ($9.15bn). Propulsion revenues grew 25.6%, with widely watched aftermarket, or services, up 21.1%. (Source: Reuters)
23 Oct 25. HENSOLDT raises guidance for book-to-bill ratio and specifies outlook for revenue and adjusted EBITDA margin
• Book-to-bill ratio: 1.6x to 1.9x of revenue (previously: approximately 1.2x)
• Revenue: approximately 2,500m euro (previously: 2,500 – 2,600 million euro)
• Adjusted EBITDA margin: 18% or higher (previously: approximately 18%)
• Industrial scaling and profitable order processing remain in focus
Sensor specialist HENSOLDT is adjusting its guidance for the 2025 financial year following recent and further foreseeable order intake. The company now expects a significantly increased book-to-bill ratio of 1.6x to 1.9x, whereas previous expectations were approximately 1.2x. In addition, the expected revenue is specified at approximately 2,500m euro (previously: range of 2,500–2,600m Euro) and the adjusted EBITDA margin at 18% or higher (previously: approximately 18%). At the same time, the company confirms its medium-term guidance and revenue ambition for 2030. Following the German government’s decision to initiate further procurement in numerous defence programmes due to the continuing high threat level, this is now increasingly reflected in concrete orders. With its solutions meeting current and future security requirements, HENSOLDT is benefiting considerably from this. As a result, the recent orders will push the book-to-bill ratio for 2025 above the previously expected 1.2x. The increasing order intake also comes with a clear mandate: industrial scaling of its programmes remains a top priority for HENSOLDT. The company is expanding its capacities through automation measures, a new logistics centre and a new building in Oberkochen. In addition, comprehensive transformation initiatives in the areas of operations, engineering and supply chain are driving efficiency, flexibility and resilience. Despite the high complexity of the ramp-up, HENSOLDT is well on track here. At the same time, profitability remains secure: the specification in the EBITDA margin clearly shows that HENSOLDT is capable of efficiently execute the increased orders and operate successfully in economic terms.
Oliver Dörre, CEO of HENSOLDT, explains: “The fact that Germany is investing strongly in its own security due to the current security situation and that this political will is now being reflected in concrete orders is an important step towards genuine defence capability. Thanks to innovative technologies and the consistent expansion of our industrial capacity, we are well positioned to make an important contribution to this. This demonstrates HENSOLDT’s ability to reliably deliver complex products and solutions even in the face of significantly increasing demand.”
Christian Ladurner, CFO of HENSOLDT, says: “The raise of our book-to-bill ratio and the specification of the adjusted EBITDA margin shows that HENSOLDT is not only growing but also continuing to operate profitably. Through targeted investments in capacity and processes, we are securing our delivery capability and sustainable growth. At the same time, our company’s operational strength forms the basis for consistently implementing our strategic priorities.”
23 Oct 25. Honeywell lifts 2025 profit outlook despite Solstice spinoff, shares rise. Honeywell on Thursday raised its 2025 profit forecast despite the impact of a planned separation of its advanced materials unit, signaling robust growth prospects fueled by strong aerospace demand, sending its shares up more than 7%.
The business, now named Solstice, is set to start trading independently on the Nasdaq from October 30 and is part of Honeywell’s plan to split into three independent companies.
Aerospace suppliers are enjoying robust demand for parts, benefiting from planemakers ramping up production at a time of booming demand for new jets.
The company’s aerospace business, however, has been pressured by higher costs and tariffs, but kept pricing steady, a trend expected to change next year. Margins in the segment fell 160 basis points in the quarter ended September.
“Pricing will become stronger next year and a lot of that is really driven just by tariffs stabilizing and that picture on inflation being much more clear,” CFO Mike Stepniak said on a call with analysts. (Source: Reuters)
24 Oct 25. Saab (STO:SAAB B) Saab Q3 2025 results: Delivering sustained growth. Saab presents the results for January-September 2025.
“We delivered solid growth across all business areas in the third quarter while market demand remains high. Based on our strong backlog and good execution so far this year, we are upgrading our full-year outlook. Our efforts to scale operations and increase production capacity while ensuring timely customer deliveries will support Saab’s future profitable growth,” says Micael Johansson, President and CEO, Saab.
Key highlights Q3 2025
• Order bookings for the third quarter amounted to SEK 20,861m (21,173), with strong growth in medium-sized orders.
• Sales in the quarter amounted to SEK 15,871m (13,546) which corresponded to an organic sales growth of 18.3% (17.4).
• All business areas reported sales growth, with particularly strong development in Aeronautics.
• EBITDA amounted to SEK 2,173m (1,888) and corresponded to an EBITDA margin of 13.7% (13.9).
• EBIT increased 16% and amounted to SEK 1,374m (1,187), corresponding to a margin of 8.7% (8.8).
• Net income increased to SEK 975m (972) and earnings per share amounted to SEK 1.77 (1.79).
• Operational cash flow amounted to SEK 142m (3,188), and reflected higher investments and timing of large milestone payments.
• Net debt amounted to SEK 667m (478) at the end of the period.
• Outlook 2025 upgraded to: organic sales growth to be between 20-24%, compared to the previous outlook of organic sales growth between 16-20%. Reiterating EBIT growth to be higher than the organic sales growth and operational cash flow to be positive for the full year.
23 Oct 25. CACI Reports Results for Its Fiscal 2026 First QuarterRevenues of $2.3bn, up 11.2% YoY
Net income of $124.8m; Diluted EPS of $5.63, up 5.6% YoY
Adjusted net income of $151.7m; Adjusted diluted EPS of $6.85, up 15.5% YoY
EBITDA of $268.6m and EBITDA margin of 11.7%
Contract awards of $5.0bn and book-to-bill of 2.2x
CACI International Inc (NYSE: CACI) announced results today for its fiscal first quarter ended September 30, 2025.
“CACI’s exceptional start to fiscal year 2026 underscores our differentiated position in the market. We delivered strong financial results across the board, including robust free cash flow driven by double-digit revenue growth and strong profitability,” said John Mengucci, CACI President and Chief Executive Officer. “Our $5bn of contract awards and growth in both total and funded backlog demonstrate our focus on critical, well-funded national security priorities. Our performance, along with our continued investments ahead of need, healthy pipeline, and strong customer demand signals, gives us increased confidence in our ability to deliver on our fiscal year 2026 commitments, achieve our three-year financial targets, and generate value for our customers and our shareholders.”
First Quarter Contract Awards
Contract awards in the first quarter totaled $5.0bn, with approximately 60% for new business to CACI. Awards exclude ceiling values of multi-award, indefinite delivery, indefinite quantity (IDIQ) contracts.
Due to the government shutdown, we have been precluded from obtaining the necessary approvals to announce or provide further details on certain awards. Notable awards during the quarter and the details we are able to announce include:
• CACI was awarded a five-year task order valued at up to $548m to design and implement virtual and field environments needed for test and evaluation of emerging communications and electromagnetic spectrum technologies for challenging, multi-domain combat environments for a Department of Defense (DoD) customer.
• CACI was awarded a 10-year IDIQ contract valued at up to $423m to continue providing capability development and software-defined technology to an Intelligence Community (IC) customer. CACI enables robust intelligence, surveillance, reconnaissance, and communications innovations to help this customer stay ahead of our adversaries across all domains.
• CACI was awarded a 12-month task order extension by U.S. Customs and Border Protection (CBP) valued at up to $315m to continue to develop, sustain and modernize information technology systems that support CBP’s border security and border enforcement missions.
• CACI was awarded a five-year recompete task order valued at up to $245m to provide network sustainment and modernization for a DoD customer.
• CACI was awarded a five-year task order valued at up to $240m to provide comprehensive integration and sustainment of multi-domain EW and spectrum dominance capabilities for a DoD customer.
• CACI was awarded a five-year task order valued at up to $212m to deliver software-defined enterprise-level network modernization for a DoD customer. CACI will provide reliable, secure, and modernized base area networks (BAN) capabilities that scale with mission-critical demand.
• CACI was awarded a five-year task order valued at up to $180m to deliver continuous, secure, and stable network operations across the Pacific theater to the Air Force – Pacific Air Forces (PACAF) in support of U.S. Indo-Pacific Command (INDOPACOM). CACI’s efforts will modernize the Air Force’s IT infrastructure to strengthen mission readiness, defend against cyber threats, and ensure Airmen have resilient connectivity to critical data when it matters most.
• CACI was awarded a five-year task order valued at up to $159m to bring extensive specialized knowledge in ship and combat systems engineering, program management, production, logistics, training, and post-delivery test and evaluation used by the U.S. Navy for international military sales to foreign partners. CACI will continue providing a wide variety of solutions that will empower the Navy’s foreign allies and partners to achieve greater readiness, efficiency, and lethality.
• CACI was awarded a five-year recompete contract valued at up to $145 m to provide engineering and support for a DoD customer.
Total backlog as of September 30, 2025 was $33.9 bn compared with $32.4 bn a year ago, an increase of 4.6%. Funded backlog as of September 30, 2025 was $5.4 bn compared with $4.3bn a year ago, an increase of 25.6%.
Additional Highlights
• CACI was among an exclusive group of companies invited to participate in three recent government sponsored C-UAS demonstrations. CACI successfully displayed its industry-leading, commercially-developed long-range C-UAS technology that detects and defeats unmanned systems across the entire range of threats, including dark drones and drones utilizing cellular networks.
• CACI showcased its Beast+ technology, a software-defined wearable, modular, multi-channel EW and SIGINT sensor, during two recent U.S. Army demonstrations. Beast+ rapidly interfaced with the Army’s Integrated Sensor Architecture (ISA), ensuring that CACI delivered an AI-enabled common operating system rapidly at the front lines. (Source: BUSINESS WIRE)
23 Oct 25. Airbus, Leonardo and Thales sign Memorandum of Understanding to create a leading European player in space.
• New European space player aims to unite and enhance capabilities by combining the three respective activities in satellite and space systems manufacturing and space services.
• Major milestone in strengthening the European space ecosystem, supporting a greater innovation capability, strategic autonomy and competitiveness, to ensure Europe enhances its role as a key player in the space global market.
• New company could be operational in 2027, subject to regulatory approvals and satisfaction of other closing conditions.
• Project expected to generate significant synergies, foster innovation, and deliver added value to customers, shareholders and employees.
Airbus (stock exchange symbol: AIR), Leonardo (Borsa Italiana: LDO) and Thales (Euronext Paris: HO) have signed a Memorandum of Understanding (“MoU”) aimed at combining their respective space activities into a new company.
By joining forces, Airbus, Leonardo and Thales aim to strengthen Europe’s strategic autonomy in space, a major sector that underpins critical infrastructure and services related to telecommunications, global navigation, earth observation, science, exploration and national security. This new company also intends to serve as the trusted partner for developing and implementing national sovereign space programmes.
This new company will pool, build and develop a comprehensive portfolio of complementary technologies and end-to-end solutions, from space infrastructure to services (excluding space launchers). It will accelerate innovation in this strategic market, in order to create a unified, integrated and resilient European space player, with the critical mass to compete globally and grow on the export markets.
This new player will be able to foster innovation, combine and strengthen investments in future space products and services, building on the complementary assets and world-class expertise of all three companies. The combination is expected to generate mid triple digit m euro of total annual synergies on operating income five years after closing. Associated costs to generate those synergies are expected to be in line with industry benchmark.
The project is expected to unlock incremental revenues, leveraging an expanded portfolio of end-to-end products and services leading to a more competitive offering, and greater global commercial reach. The combined capabilities also pave the way for even more innovative new programmes to enlarge the new company’s market positioning. Further operational synergies in, among others, engineering, manufacturing and project management, are anticipated to drive long-term efficiency and value creation. Upon conclusion of the transaction, this new company will encompass the following contributions:
• Airbus will contribute with its Space Systems and Space Digital businesses, coming from Airbus Defence and Space.
• Leonardo will contribute with its Space Division, including its shares in Telespazio and Thales Alenia Space.
• Thales will mainly contribute with its shares in Thales Alenia Space, Telespazio, and Thales SESO.
The combined entity will employ around 25,000 people across Europe. With an annual turnover of about 6.5bn€ (end of 2024, pro-forma) and an order backlog representing more than three years of projected sales, this new company will form a robust, innovative and competitive entity worldwide.
Ownership of the new company will be shared among the parent companies, with Airbus, Leonardo and Thales owning respectively 35%, 32.5% and 32.5% stakes. It will operate under joint control, with a balanced governance structure among shareholders.
Accelerating European leadership in space and ensuring its strategic autonomy, the new company aims to:
• Foster innovation and technological progress by harnessing joint R&D capabilities to be at the cutting edge of space missions in all domains, including services, and enhance operational efficiency, benefiting from economies of scale and optimized production processes.
• Increase competitiveness facing global players, reaching critical mass and ensuring Europe secures its role as a major player in the international space market.
• Lead innovative programmes to address evolving customer and European sovereign needs, national sovereign and military programmes, by providing integrated solutions for infrastructure & services in all major space domains, driving cooperation across nations and having the capability to invest.
• Strengthen the European space ecosystem by bringing more stability and predictability to the industrial landscape, amplifying opportunities for the benefit of European suppliers of all sizes.
• Create new opportunities for employee development through broader technical capabilities and the extensive multinational footprint of the new company.
Joint Statement
Guillaume Faury, Chief Executive Officer of Airbus, Roberto Cingolani, Chief Executive Officer and General Manager of Leonardo and Patrice Caine, Chairman & Chief Executive Officer of Thales, declared: “This proposed new company marks a pivotal milestone for Europe’s space industry. It embodies our shared vision to build a stronger and more competitive European presence in an increasingly dynamic global space market. By pooling our talent, resources, expertise and R&D capabilities, we aim to generate growth, accelerate innovation and deliver greater value to our customers and stakeholders. This partnership aligns with the ambitions of European governments to strengthen their industrial and technological assets, ensuring Europe’s autonomy across the strategic space domain and its many applications. It offers employees the opportunity to be at the heart of this ambitious initiative, while benefiting from enhanced career prospects and the collective strength of the three industry leaders.”
Next steps
Employee representatives of Airbus, Leonardo and Thales will be informed and consulted on this project according to the laws of involved countries and the collective agreements applicable at each parent company.
Completion of the transaction is subject to customary conditions including regulatory clearances, with the new company expected to be operational in 2027.
23 Oct 25. Kitron today reported solid quarterly sales and profits combined with record order intake and backlog, particularly driven by growing demand from customers in the Defence/Aerospace market sector.
Kitron’s revenue for the third quarter was EUR 167.8m. This compares with 145.1m in the same quarter last year. The Defence/Aerospace market sector showed particularly strong growth.
Third-quarter operating profit (EBIT) was EUR 14.6m, compared to 10.7m in the same quarter last year. Profitability expressed as EBIT margin was 8.7 per cent, compared to 7.4 per cent in the same quarter last year, approaching the strategic target of 9 per cent.
The order backlog ended at EUR 598m, an increase of 31 per cent compared to last year and 18 per cent compared to the second quarter this year.
Peter Nilsson, Kitron’s CEO, comments: “The third quarter marked continued solid performance for Kitron. Our order backlog reached new highs, driven by rapid demand growth among defence customers. We are actively expanding our capacity, increasing our outlook for the full year 2025 and looking forward to 2026 with confidence.”
Profit after tax amounted to EUR 9.1m, compared to 6.1m in the same quarter of the previous year. This corresponds to earnings per share of EUR 0.05, compared to 0.03 last year.
Outlook
At this time, Kitron expects revenue for the full year 2025 to be between EUR 700 and 740m. Operating profit (EBIT) is expected to be between EUR 59 and 66m. The previous outlook was for revenue between EUR 675 and 725m, with an operating profit (EBIT) between EUR 55 and 65m. The increase is due to growing demand in the Defence/Aerospace market sector.
(Source: Google/https://markets.ft.com/)
22 Oct 25. Dassault Systemes cuts annual revenue outlook, sees AI boost from 2026.
• Summary
• Misses Q3 analyst expectations
• Cuts FY revenue growth outlook
• Sees around 50-100m euros AI impact in 2026
French software maker Dassault Systemes (DAST.PA)cut its full-year revenue growth outlook on Thursday and posted third-quarter results below estimates, pressured by lower-than-anticipated performance in its Life Sciences and CENTRIC PLM divisions.
The firm adjusted its annual revenue growth outlook to 4%-6% from 6%-8%, while confirming a 7%-10% increase in diluted earnings per share.
The group, which sells its software to automakers, plane makers and industrial companies, reported flat third quarter revenue, slightly missing expectations. (Source: Reuters)
22 Oct 25. Thales posts 9% higher 9-month sales and orders, keeps targets Aerospace group Thales (TCFP.PA) reaffirmed financial targets on Thursday as it posted higher than expected nine-month revenues and new orders, led by defence spending and demand for avionics.
Europe’s largest defence electronics group said revenues rose 9.1% on a like-for like-basis to 15.26bn euros ($17.80bn), with its largest division, Defence, gaining 13.9%. The intake of new orders rose 9% on a comparable basis to 16.76bn euros.
Analysts were on average expecting nine-month sales of 15.13bn euros and orders of 15.72bn, according to a company-compiled consensus.
The fresh order intake included an initial contract with the SpaceRISE consortium of satellite operators to provide systems for the future European constellation IRIS².
CFO Pascal Bouchiat welcomed the “first key step” towards implementing the European Union’s secure communications constellation but warned of competitive pressures in space. (Source: Reuters)
22 Oct 25. MTU Aero Engines beats profit estimates on commercial demand. MTU Aero Engines (MTXGn.DE) reported a third-quarter adjusted operating profit that beat market expectations on Thursday, as revenue growth in its commercial engine business and commercial maintenance helped cushion the impact of U.S. tariffs.
The Airbus and Boeing supplier said its adjusted earnings before interest and taxes were 339m euros ($395m) in the quarter, up from last year’s 273m euros and exceeding analysts’ forecasts of 292m euros in a company-provided consensus.
“We anticipate a mid-twenties percentage increase in adjusted EBIT for 2025, hitting the upper end of our previous forecast,” said Chief Financial Officer Katja Garcia Vila.
Revenue in MTU’s commercial maintenance and commercial engine businesses increased by 20% in the first nine months of 2025, it said in a statement. The flagship Geared Turbofan (GTF) Pratt & Whitney series accounted for 40% of its commercial maintenance revenue and the largest proportion of orders on hand.
A key concern affecting MTU last year was the fallout from contaminated powder metal used in parts for the GTF engine fleet, which had forced airlines to ground hundreds of aircraft for accelerated inspections and repairs. (Source: Reuters)
20 Oct 25. Quantum Systems acquires AI specialist Spleenlab. Europe’s leading solution provider for unmanned systems acquires Spleenlab to bring advanced AI solutions and edge-decisioning in-house, accelerating autonomy across Quantum Systems’ portfolio.
Quantum Systems, the European leader in unmanned ISR systems and autonomous solutions, today announces the full acquisition of Spleenlab GmbH, a specialized German AI company. The transaction brings Spleenlab’s VISIONAIRY® AI suite and edge-perception expertise into Quantum Systems’ product and research ecosystem, reinforcing the company’s capability to deliver safer, more autonomous mission systems across air, land and maritime domains. By bringing additional AI capabilities in-house, Quantum Systems expands its software and AI footprint and aims to deliver on its core vision – the seamless fusion of world-class hardware, software, and AI.
The acquisition marks another step in Quantum Systems’ strategic development towards becoming a comprehensive provider of unmanned, AI-supported solutions. With its in-depth software and AI expertise, the company is consistently pursuing its goal of merging leading hardware, software and artificial intelligence into a complete system.
Founded in 2016 and headquartered in Saalburg-Ebersdorf and Jena (Germany), Spleenlab is known for next-generation machine-learning software that enables robust perception, GPS-denied navigation, multi-object detection and coordinated multi-platform autonomy. Spleenlab’s technology has already been operational on Quantum Systems platforms, including collaborative research efforts and projects for the German Ministry of Defence and various other governmental authorities and Armed Forces.
“The future is unmanned. And it’s built through the integration of world-class hardware with world-class software. With the acquisition of Spleenlab, we are expanding our technological capabilities and fulfilling our promise.” said Florian Seibel, Co-CEO and Co-founder of Quantum Systems. “Spleenlab’s AI-expertise has shaped and improved our battle-proven platforms for years and we are excited to see this partnership evolving by Spleenlab joining the Quantum Systems family. Together we will continue to revolutionize AI autonomy that works in the most demanding operational environments.”
“Spleenlab was founded to make unmanned autonomy truly possible,” said Spleenlab’s Co-CEO, Dr. Stefan Milz. “After years of successful collaboration, joining forces with Quantum Systems lets us take proven AI capabilities and deploy them at scale on platforms that operate in real-world missions.” Co-CEO Tobias Rüdiger added: “We share a commitment to engineering excellence and to delivering AI that is auditable, robust and mission-ready.”
Quantum Systems will integrate Spleenlab’s team into its AI center of excellence, tripling the Quantum Systems software and AI team in numbers. Quantum Systems will take over 100% of existing employees and will maintain the company’s operations in Thuringia and its strategic presence in Jena. Existing collaborative programmes and services for the unmanned ecosystem will continue, with the combined teams accelerating transfer of research into operational capability for customers and allied programmes.
21 Oct 25. RTX raises 2025 forecast as strong demand offsets tariff worries. Aerospace and defense giant RTX raised its full-year profit and revenue forecast on Tuesday, as rising demand for its missiles and aftermarket services bolstered its ability to weather negative fallout from tariffs.
Shares of the company rose 6.3% before the bell, as it also beat Wall Street expectations for third-quarter results.
U.S. President Donald Trump’s global tariff offensive had pushed RTX to slash its profit outlook in July, and the company expects $500m in tariff costs this year.
U.S. Commerce Secretary Howard Lutnick, meanwhile, said in August that the Trump administration was considering taking stakes in defense contractors.
“We’re not having those conversations with the government. What we are having conversations with the government about is their need for increased capacity,” RTX Chief Financial Officer Neil Mitchill told Reuters in an interview. (Source: Reuters)
21 Oct 25. KNDS sees timing of potential stock-exchange listing for June 2026. KNDS, the French-German maker of the Leopard tank and Caesar cannon, is mulling a stock market listing to facilitate growth and corporate partnerships, with a potential timing for the middle of next year, according to a company spokesperson.
An initial public offer is one of several options under consideration, with nothing decided for now, KNDS spokesman Gabriel Massoni told Defense News on a trip to the Canjuers military base in southern France on Monday. Still, if KNDS were to go ahead with a listing, it would be timed around the Eurosatory defense show this coming June, he said.
KNDS CEO Jean-Paul Alary said in September the company would decide in coming months whether to move forward with an IPO next year, according to multiple media reports. KNDS was created in 2015 through the combination of Germany’s Krauss-Maffei Wegmann and France’s Nexter, with the French government still holding 50% of the joint company.
“KNDS should no longer be seen as just a Franco-German group; it should be seen as one of the future leaders in land defense in Europe,” Massoni said. “ So this requires either a reorganization of the capital structure, or a cash injection such as an IPO would allow. It’s also a signal to bring in other potential partners.”
The decision to discuss the shareholder structure was made by the company and is not something France is pushing for, according to Massoni.
“ There is a desire to grow the group and signal the possibility of working with other partners,” Massoni said. “We almost did that with Leonardo.”
Negotiations between KNDS and Leonardo to create a European defense group fell through in June 2024, after the companies had agreed to a strategic alliance six months earlier.
Leonardo subsequently set up a joint venture with Germany’s Rheinmetall to manufacture combat vehicles for the Italian armed forces.
KNDS doesn’t plan any immediate merger and acquisition activity should the company change its capital structure, the spokesman said.
The company reported 2024 sales of €3.8bn in 2024, rising from €3.25bn a year earlier. By comparison, Rheinmetall reported combined sales for its vehicle systems and weapon and ammunition units of €6.57bn last year from €4.37bn in 2023.
While KNDS hasn’t published any profitability data for 2024, it reported operating profit of €408m in 2023, according to the company annual report for that year.
Shares in TKMS, the German naval shipbuilder, started trading on the Frankfurt Stock Exchange for the first time on Monday, with the shares rising more than 30% in their opening debut. (Source: Defense News)
22 Oct 25. SYOS Aerospace acquires Bay Dynamics. SYOS Aerospace has acquired underwater robotics specialist Bay Dynamics, to enter the fast-growing subsea domain.
“This acquisition strengthens SYOS’s position as a multi-domain robotics company serving both defence and civilian markets. Subsurface capability is the next frontier and this deal brings us closer to delivering the full spectrum of uncrewed operations: in the air, on land, at sea, and now below it,” CEO and founder of SYOS, Sam Vye, said.
The acquisition is a move by SYOS to add autonomous sub-surface technology to its product range and to expand its pipeline for future innovation, and business growth.
“The drive to constantly develop and improve uncrewed systems at both companies means it’s a great partnership moving forward on the world stage,” Bay Dynamics’ founding director, Matt Mooney, stated.
“We have a range of underwater vehicles, capable of both tethered control, or unplugged autonomous operation, and specific units for long range activities and other use-cases.”
SYOS is a joint UK-New Zealand manufacturer of uncrewed vehicles for use in defence and civilian sectors. In April it announced a £30 m (approx. AU $61.7 m) defence contract with the UK government.
“Remote and rapid seafloor and subsurface inspection and monitoring is vital in today’s geopolitical environment where there’s increasing risk to critical infrastructure,” Vye said.
“The applications for SYOS air, land, sea and now underwater vehicles are endless, ranging from disaster response to offshore inspections to delivering supplies to ships.”
Bay Dynamics’ underwater vehicles have been used for a wide range of services from inspections to complex underwater construction or repair tasks. They have bee deployed across sectors – including oil and gas, inshore energy, and civil engineering.
SYOS was founded four years ago in Mount Manganui, in North Island, New Zealand, and it opened a European engineering and production facility at Fareham in the UK in 2024. (Source: Google/https://www.australiandefence.com.au/)
21 Oct 25. Lockheed Martin lifts 2025 forecasts on robust defense demand. U.S. defense contractor Lockheed Martin raised its 2025 forecast for revenue and profit on Tuesday, driven by sustained demand for its fighter jets and munitions amid escalating geopolitical tensions.
Shares of the company initially rose 3.5%, but returned to almost no change in premarket trading in New York.
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Weapons makers are benefiting from surging demand for arms as a result of simmering conflicts in the Middle East and a protracted Russia-Ukraine war.
Lockheed, which makes the F-35 stealth fighters, said its aeronautics segment sales jumped 11.9% to $7.26bn in the third quarter.
It secured a long-awaited $12.5bn contract from the Pentagon last month, for a total of 296 F-35 jets.
Lockheed has also clinched some large agreements recently, including an about $11bn navy contract to build up to 99 CH-53K King Stallion helicopters, and a nearly $10 bn contract for Patriot missiles.
The commitments underscore a growing need for the U.S. government and its allies to replenish stockpiles and load up on new weapons.
In contrast, during the second quarter, Lockheed grappled with a $1.6bn charge, predominantly due to difficulties in its Aeronautics unit and international helicopter programs in its Sikorsky segment, which hurt shares.
Lockheed, the largest defense contractor in the world, is also vying for a slice of the Trump administration’s $175bn marquee Golden Dome missile shield, for which the Pentagon began seeking contractors last month.
The company’s total revenue rose 8.8% to $18.61bn in the third quarter, above analysts’ average estimate of $18.56 bn, per data compiled by LSEG.
Profit per share came in at $6.95, also beating expectations of $6.36.
Lockheed now expects a profit of $22.15 to $22.35 per share for 2025, compared with its previous estimate of $21.70 to $22.00.
The company also raised the lower end of its sales outlook to $74.25bn from $73.75bn, while maintaining the higher end at $74.75bn. (Source: Reuters)
21 Oct 25. Ukraine and Middle East conflicts boost U.S. arms makers profits. Weapons makers Lockheed Martin and RTX predicted strong profits for the rest of this year on Tuesday as their results benefited from surging demand for arms from conflicts in the Middle East and a protracted Russia-Ukraine war. Missiles, munitions and air defenses were important drivers for both companies, while Lockheed has been awarded a $12.5 bn contract from the Pentagon, for a total of 296 F-35 jets.
Sales at RTX, formerly Raytheon, were also driven by a shortage of new commercial jets as maintenance and repair service providers like RTX worked to maintain airlines flying older, cost-intensive fleets. It also benefited from better jet engine sales.
To be sure, Northrop Grumman (NOC.N) trimmed its full-year 2025 sales outlook, but said that it would be more profitable than expected this year. The company said that timing of certain awards to build weapons dimmed the forecast. (Source: Reuters)
20 Oct 25. Graham Corporation (NYSE: GHM) (“GHM” or “the Company”), a global leader in the design and manufacture of mission-critical fluid, power, heat transfer and vacuum technologies for the Defense, Energy & Process, and Space markets, today announced the acquisition of certain specified assets of Xdot Bearing Technologies (“Xdot”), a specialized consulting, design and engineering firm focused on foil bearing technology.
Xdot has developed and patented a breakthrough foil bearing design that delivers superior performance while lowering development and production costs. Xdot’s innovative technology and products expands capabilities within Barber-Nichols (“BN”), Graham’s wholly owned subsidiary, and is complementary to its existing product portfolio.
By combining Xdot’s foil bearing technology with BN’s turbomachinery expertise, we expect to significantly expand our ability to design and deliver high-speed rotating machines into new markets and applications. Additionally, Xdot’s technology, know-how, and product offerings positions BN to accelerate growth in high-performance markets with advanced pumps and compressors, strengthening its presence across aerospace & defense, energy transition, and numerous industrial applications.
Michael E. Dixon, Vice President and General Manager of Barber-Nichols, commented “Long-life and reliability are critical to the next generation of high-speed rotating machines, and the acquisition of Xdot’s technology, know-how, and product offerings provides Barber-Nichols with unique, patented technologies that will strengthen our ability to serve customers across key end markets. While Xdot adds additional technology, it also enables us to expand our portfolio of high-speed pumps and compressors into applications where we expect growing demand. We are excited to welcome the Xdot team to Barber-Nichols and look forward to building on their deep technical expertise.”
Xdot will be integrated into the BN business, reinforcing its leadership in engineered solutions that support critical missions and the energy transition. Additionally, BN will continue to support Xdot customers with bearing supply, but now under BN’s ISO9001 and AS9100 quality systems. Dr. Erik Swanson, Founder, President, and Chief Engineer of Xdot is a world renowned expert in foil bearing analysis, application, and fabrication and will join the BN team upon closing. Xdot has annual sales of approximately $1m and is expected to be slightly accretive to the Company’s fiscal year 2026 GAAP net income.
About Graham Corporation
Graham is a global leader in the design and manufacture of mission critical fluid, power, heat transfer and vacuum technologies for the Defense, Energy & Process, and Space industries. Graham Corporation and its family of global brands are built upon world-renowned engineering expertise in vacuum and heat transfer, cryogenic pumps, and turbomachinery technologies, as well as its responsive and flexible service and the unsurpassed quality customers have come to expect from the Company’s products and systems. Graham Corporation routinely posts news and other important information on its website, grahamcorp.com, where additional information on Graham Corporation and its businesses can be found. (Source: BUSINESS WIRE)
21 Oct 25. nxgsat, a pioneer in next-generation satellite communications, announced the successful closing of a €1.2m seed funding round led by PMV and imec.istart future fund. This investment will catalyze the acceleration of nxgsat’s flagship project – a high-speed, 5G satellite modem designed to enable seamless interoperability across terrestrial and multi-orbit satellite networks.
Satellite networks today are mostly closed and proprietary where the satcom modem only works on a single provider’s network. Alain Rolle, Founder and CEO/CTO of nxgsat, explained: “Imagine that your smartphone would only connect to a single mobile network – that’s the current reality of satellite communications. nxgsat is on a mission to change that.”
By championing open standards such as 3GPP, the company is enabling users to move effortlessly between different networks, dismantling the barriers that have long hindered interoperability in the satellite industry. At the heart of this vision is its high-speed 5G NR NTN (New Radio Non-Terrestrial Networks) standard compliant satellite modem. This modem is fully software-defined and runs on generic commercial off-the-shelf (COTS) hardware, avoiding the need for expensive purpose-built systems.
The newly raised funds will be used to accelerate product development, expand technical and commercial teams, and advance market deployment of nxgsat’s technology.
nxgsat has already demonstrated strong early market traction, securing commercial and governmental contracts within the space sector. With its 5G satellite modem technology, nxgsat is well-positioned as a key contributor to European initiatives such as IRIS², the EU’s sovereign LEO/MEO satellite constellation aimed at secure, independent connectivity.
Alain Rolle, Founder and CEO/CTO of nxgsat, commented: “This funding marks a pivotal step in our journey. With the backing of PMV and imec.istart future fund, we are now able to engage in larger-scale programs and strengthen both our technical and commercial teams. This will further reinforce our ambition to make high performance interoperable satellite connectivity a reality for tomorrow’s users.”
Kris Vandenberk, Managing Partner at imec.istart future fund, said: “nxgsat is led by seasoned industry veterans redefining satellite communications through a software-defined, standards-based approach. Its technology embodies Europe’s deep-tech strength and its vision for open, secure, and interoperable connectivity. We believe nxgsat’s innovation will play a defining role in shaping the future of global communications.”
Roald Borré, Member of the Executive Committee and responsible for Equity Investments at PMV, added: “The international race for global connectivity determines who sets the digital tone. With nxgsat, PMV is supporting Flemish technology that can make a real impact – and help determine the direction of both European and international satellite communications. In this way, we are giving local innovation the opportunity to break through globally.”
21 Oct 25. Anduril Industries Acquires American Infrared Solutions. Anduril Industries Acquires American Infrared Solutions. Today’s battlefield demands the very best sensing across the electromagnetic spectrum to ensure our warfighters can detect, track, and strike the enemy at will. Anduril’s mission systems provide best-in-class sensing performance across the electromagnetic spectrum to protect our warfighters from threats. Building exquisite, high performance sensor systems requires the very best materials and components that are acquired from talented suppliers. Anduril Industries today announced it has acquired American Infrared Solutions (AIRS), a US-based leader in the design and manufacture of high-performance cooled infrared cameras and components. The acquisition will further integrate AIRS’s advanced hardware into Anduril’s portfolio of sensing systems, expanding the range and capability of technologies available to customers. Through this acquisition, Anduril will also become a merchant supplier of cooled infrared cameras and components, serving the broader defense, space, and commercial industrial base.
AIRS has been a trusted supplier to Anduril for several years on some of the company’s longest-running and most frequently used technologies. As a supplier, AIRS provides a critical technology that has been incorporated into multiple products across all domains: air, space, ground, and sea. Like Anduril, AIRS excels at addressing complex challenges where the demands are greatest and the potential impact is significant.
AIRS’ product family joins Anduril’s existing family of imaging products, including the Iris long-range optical sensor and the Wisp high-performance 360-deg infrared camera. Together, these systems deliver day and night visibility, detection, and tracking capabilities across a range of mission sets, from fixed-site surveillance to mobile operations.
AIRS will continue to operate from its facilities in New Hampshire, serving its existing customer base. With AIRS on our team in its deepened capacity, American warfighters equipped with Anduril mission systems will be protected from threats — thanks to standard-setting technology integrated into an organization that is supercharging weapons system manufacturing. Terms of the transaction were not disclosed. (Source: ASD Network)
20 Oct 25. Warship builder TKMS rides defence boom to blowout stock market debut
• Summary
• TKMS trades at 99 euros per share in Frankfurt debut
• Valuation of 6.3bn euros surpasses that of parent
• Parent Thyssenkrupp seeking to benefit from defence asset demand
Warship builder TKMS rode a global defence boom to reach a valuation of 6.3bn euros ($7.35bn) in its blockbuster stock market debut on Monday, surpassing that of parent and main shareholder Thyssenkrupp (TKAG.DE).
The listing of TKMS (TKMS.DE) is the German conglomerate’s latest move to simplify its structure and take advantage of growing demand for defence assets.
Shares in Thyssenkrupp, which will keep a 51% stake in TKMS after the spin-off, were down 19% at 1109 GMT, reflecting the transfer of the stake in the naval vessel business, and up 8.4% once the parent’s valuation is adjusted for the transaction. (Source: Reuters)
20 Oct 25. Seraphim Space Investment Trust plc (LSE: SSIT), the world’s first listed SpaceTech investment company, has announced its results for the year ended 30 June 2025.
A full version of the results can be viewed here: https://www.londonstockexchange.com/news-article/SSIT/full-year-results/17285197
Key Highlights:
• Portfolio valuation up by £58.3m (28.9%) to £259.8m at 30 June 2025, with additional investments and increased fair value net gains driven by defence tailwinds (particularly from the Company’s largest holding, ICEYE, which doubled in value) partially offset by disposals and FX losses
• £14.2m deployed in one new portfolio company and six existing portfolio companies.
• The private portfolio, which comprises an increasing part of the Company’s investments, representing 96.4% of fair value and 89.1% of NAV at 30 June 2025, performed solidly, with its fair value closing the year at 155.8% vs. cost (162.8% excluding FX losses). In aggregate, the fair value of the private portfolio (excluding Voyager, which went public during the year) increased 33.4% over the year.
• 66% of the portfolio by fair value has a robust cash runway, with 58% fully funded and 8% funded for 12 months or more from 30 June 2025, including raises completed post period end.
• The private holdings continued to deliver on key milestones, and a number have seen substantial revenue growth, leading to their management teams expecting them to become EBITDA profitable before the end of 202
• In the year, the Company received £12.5m in proceeds from disposals. Astroscale went public on the Tokyo Stock Exchange on 5 June 2024, and on 10 April 2025, SSIT exercised the options it held in AST SpaceMobile and disposed of some of its holding.
• Cash balance of £21.5m at year end.
20 Oct 25. German Drone Startup Quantum Systems Targets $175m Raise at €3.5bn Valuation. German drone maker Quantum Systems is close to completing a 150m euro ($175m) funding round that could triple its valuation to 3 bn euros ($3.5BN), Manager Magazin reported, citing unnamed sources. The startup company, whose new drone “Jaeger” is designed to intercept hostile unmanned aircraft, has seen demand surge following recent drone disruptions at major airports. According to the report, Quantum plans to grow by acquiring startup companies and technology providers in the short term. Quantum’s revenue is projected to reach 300 m euros in 2025 and exceed 500 m euros in 206, the magazine added. A second, larger funding round is planned for 2026, potentially pushing the firm’s valuation to 5 bn euros, the report said. The Berlin-based company has rapidly grown to become one of Europe’s leading defence tech startups, driven by increasing demand for counter-unmanned aerial systems (C-UAS) technology amid escalating drone disruptions at airports. Initially focused on dual-use autonomous drones for mapping, surveillance, and reconnaissance, Quantum has pivoted into airspace defence with its latest model, the “Jaeger.” Designed to intercept hostile drones, the Jaeger exemplifies Quantum’s core mission to blend military-grade precision with civilian safety applications. Quantum’s technology differentiates itself through cutting-edge AI integration and swarm-resilient communication, enabling drones to detect, track, and neutralise threats autonomously. Quantum Systems did not immediately reply to a request for comment from Reuters. The report comes after the German government said it would grant police the power to shoot down rogue drones like those that have disrupted airports across Europe and that some have attributed to a hybrid war being waged by Russia. (Source: UAS VISION/ Reuters; TechFundingNews)