European defence company with global relevance
The geopolitical developments of recent years have clearly demonstrated the need for a strong European defence industry. Both the war in Ukraine and the threat of attacks in cyberspace show how essential highly developed defence systems are. With a long tradition of technological excellence, operational efficiency and forward-looking solutions, Saab is a reliable partner to its customers – far beyond Europe's borders. With Sweden joining NATO in 2024, the company's strategic importance has grown once again.
In a speech in 1936, Sweden's Prime Minister Per-Albin Hansson stated that ‘our country should produce as many weapons as possible itself. We have good shipyards and armouries, but we don't produce fighter aircraft in the country.’
The beginning of a success story: today, Saab is one of the world's leading European suppliers of defence, aerospace and security solutions, with more than 24,000 employees worldwide. Its mission is to strengthen defence capabilities, protect borders and increase resilience to emerging threats. In the face of global geopolitical uncertainty, the Swedish group is committed to being a reliable partner that supports countries in strengthening their defence capabilities and contributes to increasing European defence capacity.
In 1940 Saab launched the Saab B 17, the first domestically designed fighter aircraft. It was particularly versatile – it could also operate on snow and ice – and was therefore ideally suited for the difficult winter conditions in the north.
Sweden's accession to NATO in March 2024 has also supported this course. It opens up access to joint procurement programmes between member countries, from which Saab also benefits – especially since many of Saab's systems are already interoperable. It also opens up opportunities for expanded cooperation and strategic integration into the European and transatlantic security architecture.
Strong economic performance in a dynamic market
2024 was an important year for Saab. With a strong focus on innovation, defence and sustainability, the company has further consolidated its position. The product portfolio now includes more than 500 systems. The group is globally recognised for a large number of these and holds a leading market position in some cases, including fighter aircraft (Gripen E), advanced weapon systems (Carl-Gustaf, AT4, NLAW), sensors (Giraffe, GlobalEye), command and control systems and underwater systems (A26). Together with customers, individual needs are identified and the products are tailored to the respective market. In 2024 alone, Saab generated sales of almost 6 billion euros, which corresponds to a growth of 24 percent, an EBIT improvement of 33 percent and an EBIT margin of 8.9 percent.
While Sweden and Europe remain among the most important markets, the number of international orders is also steadily increasing. 10 per cent of Saab's business is already in North America and 8 per cent in Asia, closely followed by Latin America with 7 per cent. To meet the growing demand, Saab is operating and planning new production facilities in the United States, India and Finland. The high demand for Saab products is also reflected in recruiting: around 3,000 new employees were hired in 2024, an increase of 13 per cent. Saab also pays attention to diversity – by 2030 at the latest, 30 per cent of the workforce should be female – currently it is already 26 per cent. The same applies to management: the target here is a share of at least 35 percent.
Innovation as a competitive advantage & focus on sustainability
Growing cooperation within Europe – both at the EU and NATO level with programmes such as EDIRPA or the NATO Defence Production Action Plan – is strengthening the autonomy of the European defence industry. At the same time, this means a high level of responsibility and requires the expansion of capacities. Saab is aware of this obligation and is nevertheless investing heavily in research and development (R&D) to ensure its long-term future viability. In 2024, 17 per cent of sales revenues were invested in R&D. Almost half of the workforce is constantly working to adapt products and services to new requirements and individual customer demands, while also staying one step ahead of the competition. In the coming years, the focus will be on software-controlled technologies, autonomy and AI-supported capabilities, among other things. As a small player in the global market, the company learned early on to be particularly innovative in the areas of system design, lead times, and cost and performance efficiency.
Innovation is critical for Saab’s future and we believe it’s something that can be learned, managed and measured so that we can create and sustain an innovative company culture.
More than 80 years after the company was founded, the focus remains on creating value for society, customers and all stakeholders, as well as on sustainability. As part of Saab's commitment to the United Nations' “Race to Zero,” the company has set science-based emissions reduction targets for 2050, which were approved by the Science Based Targets Initiative (SBTi) in the summer of 2024. This makes Saab the first major defence company to achieve this, enabling its customers in turn to achieve their sustainability goals. This pioneering role is to be further expanded in the coming years – both in the area of resource conservation in production and in adapting to climate change in the (further) development of existing and new solutions. A separate climate fund has also been set up for this purpose.
What happened in 2024?
2024 has been an important year for Saab, marked by significant developments across various sectors. With a strong emphasis on innovation, defense, and sustainability, Saab has continued to solidify its position as a leader in cutting-edge technology. Fast forward 2024 - with insights, news and background.
Read moreDefending the future requires new partners
Many of the forward-looking technologies, such as artificial intelligence (AI) or unmanned systems, are increasingly being developed by non-military organisations and companies. This is one of the reasons why Saab is establishing strategic industrial partnerships in a wide range of markets that generate innovation in order to equip and protect armed forces in the best possible way. Cross-sector collaborations and acquisitions are also becoming increasingly relevant. By establishing new partnerships, Saab is seeking to achieve local growth outside Sweden and aims to become an integral part of the defence ecosystem in these countries.
This strategy, coupled with acquisitions in the markets, means that innovations can be quickly and effectively integrated into existing Saab systems. For example, machine learning and generative AI in sensor and deployment systems to improve data analysis and optimise decision-making processes. A further step in this direction was Saab's acquisition of BlueBear in 2023, which saw the Swedish defence expert expand its expertise in AI-supported swarm technologies for air and sea areas. In the same year, Saab entered into a strategic cooperation agreement and made investments of 75 million euros for a five per cent stake in Helsing GmbH, a defence company specialising in AI-based software technologies. This constant innovation not only makes Saab a reliable partner for armed forces worldwide, but also ensures the company a strong market position in an increasingly technology-driven defence environment.
Saab in Denmark
We collaborate with our Danish partners to develop innovative, customised technologies for multi-domain operations (MDO), jointly protecting society against the threats of an ever-changing world.
Read more