European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent research observatory tracking Europe’s listed growth companies.

Francesco Castellaneta, Full Professor of Strategy and Entrepreneurship, SKEMA Business School – Université Côte d’Azur (GREDEG) · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank84

Austria · Technology

Frequentis

Develops control-centre systems for air traffic management, emergency services, railways, public transport, coastguards and port authorities.

+50%revenue growth
FY2022–FY2025
+51%net-income growth
FY2022–FY2025
+160%stock return
FY2022–FY2025
+2%2026 stock return
current context only

Company profile

From remote airport towers to emergency dispatch and coastal radio

Frequentis designs the operator workstations and software behind air-traffic towers, emergency call centres, railway operations rooms and coastguard networks. Its systems combine voice, sensor feeds, incident workflows, recording and mobile data in one operational picture. Because these rooms must continue through outages, upgrades and handovers, the business extends beyond software alone: projects involve standards and regulatory work, resilient architecture, training, migration and support across long operational lives.

Air traffic and defence

An airport tower can sit hundreds of kilometres from its runway

DFS has controlled Saarbrücken Airport from Leipzig since 2018 using a five-screen panorama fed by video and infrared cameras; the Frequentis case study records more than 36,000 flights managed remotely. The US Air Force Flight Standards Agency and Naval Information Warfare Center also trialled fixed and containerised digital towers at three bases. Simulation, shadow training, ICAO alignment and regulatory approval sit alongside the hardware, while an LVNL agreement illustrates a development partnership with a horizon of up to 25 years.

Emergency services

One screen must connect calls, radios, crews and dispatch

West Yorkshire Fire and Rescue Service's cloud control room combines LifeX with Regola's Unique CAD, Airwave radio and mobile and station systems for crews serving more than two million residents. A separate North Rhine-Westphalia police programme spans 50 control rooms, about 400 operator positions and five networked technical centres. Both show the operating model: integrate many channels and third-party systems while designing for redundancy, availability and phased migration.

Rail operations

A drone can reach damaged track before the response team

ÖBB uses drone garages to inspect hazardous or snow-covered track beyond the pilot's direct view and stream live images to the control room; Frequentis says ÖBB was Europe's first infrastructure company authorised for this operating model. Its ICM platform guides rail incidents from alert to resolution. A deployment brief also names ÖBB's six-centre consolidation, Sydney Trains' Rail Operations Centre and CFL's safety-management process.

Maritime safety

Coastal radio is national infrastructure, not just a call channel

Norway's Kystverket coastal-radio network spans 150 sites and nearly 500 radio units along 9,200 kilometres of coastline, supporting communications for 42,000 Norwegian-licensed vessels. MarTRX brings radio, radar, AIS, incident workflows and legal recording into the maritime control room. Ports of Jersey's 24/7 coastguard and vessel-traffic service and Marine Rescue New South Wales show how the same architecture supports routine traffic and life-saving response.

Current 2026 update

What is changing at Frequentis in 2026?

Frequentis is moving mission-critical communications from legacy radio and voice systems through new IP gateways toward software-based virtual control centres and broadband-ready emergency platforms in the United States, Poland and Belgium.

Latest official evidence Belgian emergency-control-room selection Published 27 August 2026

The change in one sentence

Three products show one transition: critical communications are becoming IP, software and broadband.

APC converts legacy TDM radio and voice communications to IP, X10 links virtual air-traffic centres and LifeX prepares emergency control rooms for real-time text and future MCX networks.

Four lenses on 2026

The same four-quadrant format used in the Company profile.

01 · US voice modernisation

A 15,000-gateway production sprint enters the X10 phase

Frequentis USA completed production of the 15,000th Air-to-Ground Protocol Converter for the FAA/DOT voice-modernisation programme. The gateways convert legacy TDM radio and voice communications to IP. Frequentis received the contract in 2024, and manufacturing partner ComSonics built the units. Frequentis USA President Dieter Eier says the original eight-year rollout plan was compressed into 12 months of production. This is a manufacturing milestone, not evidence that all 15,000 units are installed or operationally accepted. The next phase is different: Frequentis is building the first 63 X10 voice systems, with deliveries scheduled for completion in early 2027. Its H1 report adds a separate procurement pressure: AI/data-centre demand has tightened global supplies of chips, servers and components. Frequentis reports higher inventories, advance purchases and price clauses, but no APC or X10 delay caused by those shortages.

  • Current signal15,000 APC units produced · 63 X10 systems in build · early-2027 delivery target
  • Why it mattersFrequentis has shown production scale; field installation, acceptance and the transition to complete voice systems remain the harder operating tests.
  • US APC and X10 transition Frequentis · 2026-07-21
  • Hardware supply and Nemergent state Frequentis · 2026-08-11

02 · X10 in Poland

A virtual centre interconnects Polish control centres

Frequentis delivered its software-based X10 voice-communication system to Polish Air Navigation Services Agency PANSA, which manages around 3,000 flights a day. X10 interconnects Polish air-traffic control centres in a virtual-centre environment. The deployment has 74 operational positions: 60 allocated to active air-traffic management and 14 to controller training. Frequentis describes multi-redundancy, built-in cybersecurity and an open architecture for integration with current and future IP networks. Frequentis supplies the technology; PANSA operates Polish airspace and controls the traffic. The release does not quantify changes in delays, safety performance or efficiency, so the value claim remains the customer's intended resilience and flexibility. Poland nevertheless makes X10 tangible as an operating national platform while the first 63 US systems are still being built for later delivery.

  • Current signal74 operational positions · 60 ATM + 14 training · about 3,000 flights/day
  • Why it mattersPoland shows X10 beyond a specification sheet: one software deployment supports active control and training positions while preserving PANSA's operating role.
  • PANSA virtual-centre deployment Frequentis · 2026-08-13

03 · Belgian emergency communications

LifeX enters Belgium's ComHub; Frequentis separately takes 51% of Nemergent

Belgium's emergency and security communications provider ASTRID selected Frequentis to deliver LifeX for its nationwide ComHub modernisation, covering police, fire and medical emergency centres. LifeX is intended to strengthen call handling and dispatch, is designed for upcoming NG112 standards including real-time text and provides a path toward ASTRID's future Mission Critical Services network. This is a supplier selection, not a completed rollout, certified compliance or demonstrated response-time improvement. Separately, Frequentis increased its stake in Spanish MCX specialist Nemergent Solutions from 24.83% to 51% at end-July. Frequentis says Nemergent adds European MCX technology and applications to its MissionX ecosystem for public safety, critical infrastructure, defence and rail. LifeX, MissionX and Nemergent have distinct roles; no source says the stake increase caused the ASTRID selection.

  • Current signalLifeX selected for Belgian ComHub · real-time text path · Nemergent stake 51%
  • Why it mattersFrequentis is extending from control-room voice toward broadband public-safety communications while gaining majority, not full, control of a key MCX specialist.
  • Belgium LifeX selection Frequentis · 2026-08-27
  • Hardware supply and Nemergent state Frequentis · 2026-08-11

04 · What to watch

Three questions for the next disclosures

The next evidence should separate manufacturing, delivered platforms and customer rollout outcomes.

  • US deploymentDo the 15,000 APC units reach disclosed installation or acceptance states, and do the 63 X10 systems stay on the early-2027 delivery timetable?
  • Virtual-centre evidenceDoes PANSA or Frequentis disclose operating outcomes from the 74-position X10 deployment or further virtual-centre expansion?
  • Belgium and MCXWhat LifeX delivery milestones follow ASTRID's selection, and how is majority-owned Nemergent integrated into the separate MissionX ecosystem?

Annual record

Ranking history

Future editions add rows; they do not rewrite the 2026 record.

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202584+50%+51%+160%