Saab’s order intake more than tripled during the third quarter of 2026, driven by a SEK 24.6 billion ($2.5 billion) contract for 16 Gripen E fighters for Ukraine and a SEK 10.1 billion ($1 billion) order for two GlobalEye airborne early warning and control (AEW&C) aircraft.
The Swedish defense company booked SEK 65.8 billion ($6.6 billion) in orders between July and September 2026, up from SEK 20.9 billion ($2.1 billion) a year earlier, according to results published on October 23, 2026.
Saab’s order backlog reached SEK 364.2 billion ($36.7 billion) at the end of September, up from SEK 274.5 billion ($27.7 billion) at the start of the year. Quarterly sales rose 30.6% organically to SEK 20.6 billion ($2.1 billion), while operating income increased 42% to SEK 1.95 billion ($197 million).
Gripen E order strengthens Saab’s backlog
The Gripen E contract was signed with Sweden’s Defense Materiel Administration (FMV) on June 30, 2026. It accounted for 85% of the SEK 28.8 billion ($2.9 billion) in orders received by Saab’s Aeronautics division.
Aeronautics sales grew 9% during the quarter, while operating income rose 56%, although costs related to the Boeing-Saab T-7A trainer program continued to weigh on profitability.
The deal covers 16 fighters, spare parts and associated equipment, with deliveries to FMV scheduled for 2029 and 2030. However, Ukraine’s Ministry of Defense said in June that it expected the aircraft to begin operating in early 2029. The purchase is financed through a European loan, with British support.
Saab CEO Micael Johansson described the contract as a first step toward expanding Ukraine’s air force capabilities. Sweden and Ukraine signed a letter of intent in October 2025 covering a potential 100 to 150 Gripen E fighters.
Meanwhile, Ukraine expects to receive its first 16 Gripen C/D fighters from Sweden as military assistance in early 2027.
GlobalEye boosts Surveillance orders
Saab’s Surveillance division recorded SEK 19.7 billion ($2 billion) in orders during the quarter, compared with SEK 4 billion ($404 million) a year earlier. Sales rose 65%, supported by deliveries of Giraffe 1X radars and progress across existing programs.
The division’s largest new order was a SEK 10.1 billion ($1 billion) GlobalEye contract announced in July 2026. The undisclosed Middle Eastern customer is due to receive two aircraft in 2030.
Further GlobalEye orders could follow. NATO announced plans in July to negotiate the acquisition of up to ten aircraft to replace its aging E-3A Sentry fleet. Meanwhile, Canada selected GlobalEye as its preferred AEW&C platform in May 2026 and signed a non-binding term sheet with Saab in September 2026 covering six aircraft. Neither program has yet resulted in a firm order.
The Netherlands also signed a letter of intent in September 2026 to acquire one GlobalEye, with delivery expected in 2031. The aircraft would join a shared fleet with Sweden, allowing Dutch crews to begin operating Swedish GlobalEye aircraft from 2028.