Saab Secures French Order for Two GlobalEye Surveillance Planes

• Contract valued at 12.3 billion Swedish crowns ($1.34 billion) with delivery timeline spanning 2029-2032
• Deal includes option for France to acquire two more GlobalEye aircraft, potentially doubling the order value
• GlobalEye is an advanced airborne early warning and control system used for surveillance and reconnaissance

Swedish defense contractor Saab has secured a major contract from France worth 12.3 billion Swedish crowns ($1.34 billion) for two GlobalEye airborne early warning and control (AEW&C) surveillance aircraft. The deal, announced on December 30, includes an option for France to purchase two additional units.

Deliveries are scheduled between 2029 and 2032, indicating a long-term production timeline typical of complex military aviation projects. The GlobalEye system, based on Bombardier's Global 6000 business jet platform, features advanced radar and sensor capabilities for maritime and ground surveillance, making it a strategic asset for national defense.

This order represents a significant win for Saab in the competitive military surveillance aircraft market, strengthening its position against rivals like Boeing and Northrop Grumman. The contract value of $1.34 billion marks one of Saab's larger defense deals and could potentially double if France exercises its option for additional aircraft.

For investors, this development positively impacts Saab's order backlog and revenue visibility through 2032. The French order also validates the GlobalEye platform's capabilities and may attract additional international customers. The deal strengthens European defense cooperation and France's surveillance capabilities amid growing security concerns in the region.

The extended delivery timeline suggests steady revenue recognition over the coming years rather than immediate impact. Market implications include potential positive momentum for Saab shares and the broader European defense sector, as nations continue modernizing military capabilities. The optional additional aircraft provision indicates France's confidence in the system and potential for contract expansion.