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Indra Eyes 80% Defense Growth by 2026
29 Oct
Summary
- Defense revenue growth expected to reach 80% by 2026.
- Revenue surged 26% year-on-year to €1.47 billion.
- Backlog reached €22.2 billion, up 133% year-to-date.
Spain's technology and defense giant, Indra, has projected a remarkable defense revenue growth of around 80% by 2026. This optimistic forecast is primarily fueled by anticipated deliveries of its TESS Defence VCR 8x8 Dragon vehicle. The company's recent third-quarter financial report highlighted substantial gains, with revenue climbing 26% year-on-year to €1.47 billion. Particularly impressive were the Space sector's 329% growth and Defense sector's 95% increase.
Indra's order book has expanded significantly, reaching €22.2 billion in the first nine months of the year, a 133% increase. This surge was boosted by a significant €1.9 billion IRIS² satellite contract from the European Commission. The company also noted that approximately 70% of IRIS² revenue is expected before 2030. Acquisitions have played a crucial role, contributing €529 million to revenue across various divisions, including TESS Defence in the Defense segment.
The company emphasized the growing importance of the Spanish market, which represented 58% of its revenue in the first nine months. This trend is expected to continue, aligning with Spain's commitment to increase defense spending. Indra is actively participating in both Spanish modernization programs and NATO contracts, solidifying its position in the European defense landscape.
