Hello defense sector followers and investors!
Saab received an order of ~2.1 BSEK from FMV for LSS Lv and Giraffe 1X. It is another step in Sweden’s gradual build out of brigade level ground-based air defense, showing how earlier ground-based air defense and Giraffe 1X purchases are being expanded into a more complete formation level solution rather than remaining one-off purchases. For Surveillance, it is a solid domestic sensor and C2 reference that sits alongside recent Giraffe 1X and MSHORAD wins in Sweden and export markets, but at ~1% of our 2027 revenue estimate it is best seen as a supportive data point for the order book (so far in 2025 at ~130 BSEK) and for policy driven demand in Saab’s radar and command-and-control portfolio rather than a thesis changing contract.
The press release: Saab receives order for ground-based air defence solution from Sweden - Inderes