Saab rises to world’s 20th-largest defence company

Saab has risen to become the world’s 20th-largest defence company and the sixth-largest in Europe, according to Defense News’ annual ranking, SVT reports.

The Swedish company has completed several billion-scale deals this year. “This ranking is proof of our strong market position. We see significant international interest in the market for our products and solutions,” Saab press chief Mattias Rådström said.

Rådström cited deals involving Gripen aircraft for Ukraine, Colombia and Thailand, as well as submarines for Poland. He also pointed to interest in Saab’s GlobalEye surveillance aircraft from France, Canada and NATO.

“Saab has grown very strongly in recent years. We have hired 10,000 new employees in just a few years and significantly increased our turnover,” Rådström said.

Since 2022, Saab has climbed from 35th to 20th in the global ranking and from 10th to sixth in Europe.

Rådström said the security situation in Europe and around the world, including the war in Ukraine and tensions in the Middle East, had led many countries to increase defence spending.

“Unfortunately, Russia’s full-scale invasion of Ukraine has been a tragic wake-up call for many, showing that countries must look after their own security and ensure they can protect their borders and populations,” he said.

Critics, including the Swedish Peace and Arbitration Society, have questioned Sweden’s increased arms exports. “It is in some ways very sad that we as a defence company should grow in such a situation, but it is a wake-up call for many countries,” Rådström said.