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 rank19

Sweden · Industrials

Saab

Saab operates through four named business areas: Aeronautics, Dynamics, Surveillance and Naval.

+94%revenue growth
FY2022–FY2025
+197%net-income growth
FY2022–FY2025
+434%stock return
FY2022–FY2025
+10%2026 stock return
current context only

Company profile

Platforms, sensors and local industrial partnerships

Saab combines combat aircraft, airborne and ground sensors, infantry weapons, naval platforms and combat-management software with training and lifecycle support. The revealing part is how these capabilities reach customers: Gripen work is divided between Sweden and Brazil, Saab's T-7A section is built in Indiana for Boeing, and Saab now places its naval-platform work and most of Naval Combat Systems in one business area.

Aircraft and industrial partnerships

Divide aircraft work across Brazil, Sweden and the United States

Saab's São Bernardo do Campo plant makes Gripen aerostructures for final assembly at Embraer's Gavião Peixoto plant and at Saab in Linköping. The Brazilian final line receives those sections and is an Embraer facility, not a second Saab plant. In the Boeing-Saab T-7A programme, Saab develops and manufactures the fully installed aft fuselage; series work moved from Linköping to West Lafayette, Indiana, before delivery to Boeing.

Sensors and decision support

See from the air, locate from the ground and decide at sea

GlobalEye combines Erieye ER with other sensors and command-and-control aboard a Bombardier aircraft for air, sea and land surveillance. Giraffe 4A is a mobile or fixed GaN-AESA radar for air surveillance, weapon location and ground-based air defence. On ships, 9LV fuses sensor data, coordinates weapons and supports operator decisions. They are separate systems for different settings, not one combined product.

Ground combat and support

Treat Carl-Gustaf as a system, not only a launcher

Carl-Gustaf M4 is the entry point to a wider package of ammunition, fire-control devices, training and support. The M4 launcher weighs less than seven kilograms, while different rounds address armour, structures, smoke and illumination. Saab's support model adds training, maintenance, technical publications and spare-parts provisioning across the product lifecycle; the official HEAT 758 film shows how one anti-armour round is configured for modern threats.

Naval platforms and systems

Bring submarines, surface ships and combat systems into Naval

From 1 April 2026, Saab's Naval business area combines the former Kockums operations with most of Naval Combat Systems. The portfolio spans A26 submarines with Stirling air-independent propulsion and a Multi-Mission Portal, Visby-class corvettes with an all-composite carbon-fibre hull, and surface craft for combat, mine-countermeasure and patrol roles. The reorganisation connects platforms with combat-management, fire-control, secure-communications and integration work under one management structure.

Current 2026 update

2026 highlights

Agreement announced 21 July 2026 · 21 July 2026

Agreement announced 21 July 2026latest official update
4curated 2026 highlights
+10%2026 stock return · context only

First-half momentum

First-half sales rose 25.4% to SEK 44.6bn, while profit attributable to Saab shareholders increased 28.0% to SEK 3.58bn.

Largest export order

A SEK 47bn contract for three A26 submarines for Poland became Saab's largest export order; production capacity is being expanded in Karlskrona and Landskrona.

Unmanned airborne surveillance

Saab and General Atomics conducted test flights of what Saab describes as the world's first unmanned Airborne Early Warning system.

Gripen capacity in Brazil

A framework with Embraer could add assembly of 20 Gripen aircraft in Brazil alongside Saab's Linköping line; the definitive agreement was still intended for 2026.

Annual record

Ranking history

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

EditionMeasurement periodRankRevenue growthNet-income growthStock return
2026FY2022–FY202519+94%+197%+434%