European Growth Leaders 2026

Annual ranking data providerLSEG WorkspaceUsed with permission · acknowledgements

An independent academic observatory making Europe’s listed growth companies visible.

Francesco Castellaneta, Full Professor of Strategy, SKEMA Business School · Scientific Committee Diego Zunino and Jackie Krafft

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Annual rank97

Germany · Industrials

OHB

Develops complete satellite systems and missions, space-access infrastructure, and data-driven applications and digital services.

+29%revenue growth
FY2022–FY2025
+55%net-income growth
FY2022–FY2025
+276%stock return
FY2022–FY2025
+108%2026 stock return
current context only

Company profile

Build the spacecraft, enable the launch and use the data

OHB is a Bremen-headquartered group of about 4,000 people at 18 locations. Its three segments span spacecraft, access to space, and digital ground and data services. The distinctive feature is a network model: OHB System, OHB Italia, OHB Sweden, MT Aerospace and digital subsidiaries take different prime, supplier, operations or application roles across European programmes.

Navigation, weather and Earth observation

Separate prime, platform, builder and operator roles across four constellations

OHB System was prime contractor for 34 first-generation Galileo satellites, with 30 in orbit by December 2025. For MTG-S1 it built the Sounder satellite and the platforms used across six MTG spacecraft, while Thales Alenia Space led the wider industrial consortium and EUMETSAT manages mission control and data distribution. Eight new OHB Italia satellites expanded the optical-and-AIS Eaglet II constellation to 16; OHB Sweden is prime contractor to deliver 20 satellites for EPS-Sterna.

Science and exploration

Move from exoplanets to gravitational waves and planetary defence

LISA gives OHB System its first prime-contractor role on an ESA large-class science mission: it will build three spacecraft for gravitational-wave detection under an €839 million contract. OHB System led PLATO's thermal-vacuum campaign, a pre-launch test for the 26-camera exoplanet observatory. OHB Italia is prime contractor for the RAMSES spacecraft, OHB System performs structural integration and OHB Czechspace supplies additional support structures; for Argonaut, OHB System supplies three LDE subsystems under Thales Alenia Space Italy.

Access to space

Supply Ariane hardware without claiming the launcher

MT Aerospace, wholly owned since October 2025, supplies cryogenic tanks, structures and booster hardware accounting for about 10% of Ariane 6. ArianeGroup remains the launcher's lead contractor and design authority; MT Aerospace's 2025 series order covers structural components and tanks for Ariane 6 flight models 16–42. MT Aerospace Guyane, MT Aerospace AG's separate Kourou subsidiary, maintains launch infrastructure and supports propulsion, ground and campaign services for Ariane and Vega.

Ground systems and digital services

Operate the mission, improve the data and turn it into decisions

OHB Digital Connect operates satellites through its Multi-Mission Control Center and has upgraded ground stations for Germany's SATCOMBw system. It is also developing AI super-resolution for MTG-I1 weather data. In the Urban View Demonstrator, OHB Digital Services leads work on urban green spaces while Digital Connect focuses on heat-island analysis, preserving the distinction between the two subsidiaries.

Current 2026 update

2026 highlights

Launch-capability update announced 24 July 2026 · 24 July 2026

Launch-capability update announced 24 July 2026latest official update
4curated 2026 highlights
+108%2026 stock return · context only

Order book expands

OHB's order backlog reached €3.35bn at 31 March, 44.9% above the prior-year level.

Growth capital

OHB set a €300 subscription price for an up-to-€510.7m capital increase and approved 1,605,388 shares for its first tranche.

Autonomous Moon landings

OHB authorised MDA Space UK to begin work on a LiDAR sensor designed to help ESA's Argonaut lander detect hazards and select a safe landing site.

European launch capability

OHB and European Spaceport Company said preparations were under way for sovereign, flexible launch capability using maritime and land-based platforms.

Annual record

Ranking history

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

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202597+29%+55%+276%