Defense companies reported higher sales and order intake across missiles, military vehicles and air defense in 2026, while Rheinmetall cut its annual sales outlook after project and ammunition-testing delays.
Lockheed Martin’s Missiles and Fire Control segment generated $4.501 billion in third-quarter sales, 24% above the same quarter in 2025. The company attributed $480 million of the increase to production ramps in air and missile defense and $330 million to tactical and strike missile programs. Those programs included Patriot PAC-3, THAAD, GMLRS and Precision Strike Missile.
RENK Group AG’s Vehicle Mobility Solutions division recorded €1,321.8 million in order intake during the first nine months of 2026, up 46.2% from a year earlier. Revenue in the division rose 12.3% to €650.2 million. Across the group, order intake increased 33.6% and revenue grew 5.8% to €982 million. RENK said group revenue tracked customer delivery and release plans set in contracts. Its total order backlog reached €7.6 billion.
HENSOLDT’s Optronics division reported order intake of €1,157 million, up 252.7%, and revenue of €354 million, up 52.4%, over the same nine-month period. The company said major awards for sights and self-protection equipment used on Schakal and Puma infantry fighting vehicles drove much of the order increase. HENSOLDT linked demand for its products to continued defense investment in Germany and other European countries.
Rheinmetall’s Air Defence segment, which includes systems designed to counter drones, posted sales of €731 million in the first nine months, a 63% increase. The company cut its 2026 sales outlook to about €13.2 billion from a previous range of €13.7 billion to €14.2 billion. It cited delays to the German armed forces’ Arminius project and artillery ammunition lot acceptance tests.
In July, North Atlantic Treaty Organization (NATO) Allies set a five-year target for spending more than $40 billion on defenses against drones. NATO said Allies also want to increase the number of trained drone operators fivefold by the end of 2027. HENSOLDT’s next listed milestones are a London investor event on Nov. 10 and preliminary full-year results expected Feb. 24, 2027.
