The military aircraft manufacturing industry in Europe focuses on producing advanced aircraft for defense and military applications. This sector involves a variety of companies, from aerospace giants like Airbus to smaller specialized firms creating systems and components. These companies engage in designing, manufacturing, and supporting military platforms, including fighter jets, drones, and helicopters. As security concerns rise globally, the industry is shifting towards new technologies, such as unmanned systems and sustainable aviation capabilities. Collaboration among nations remains a key trend, as countries invest in joint procurement programs to modernize their fleets and enhance operational efficacy.


The list features 14 notable investors from the military aircraft manufacturing sector in Europe. This group includes corporate giants like Airbus and Safran, alongside private equity firms such as Baillie Gifford and Andera Partners. Headquartered primarily in major European cities like Paris, London, and Stockholm, these investors vary in size from small firms to large corporations. Most were founded in the 20th century, with activity peaking in 2024 marked by significant investment strategies aimed at bolstering military capabilities. Together, they completed a total of 60 investments last year, reflecting rising demand in the industry.


Top 14 Military Aircraft Manufacturing Investors in Europe


1. Safran

  • Website: safran-group.com
  • Type: Corporate
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 2005
  • Headcount: 10001+
  • Number of deals in 2024: 9
  • LinkedIn: safran

Safran is a corporate investor based in Paris, Île-De-France, France, founded in 2005. As an aerospace manufacturer and defense contractor, Safran specializes in aircraft equipment, propulsion systems, and defense technologies. The company serves a diverse clientele, including aircraft manufacturers and military organizations, by providing innovative solutions that enhance safety and operational efficiency in aviation and defense sectors. In 2017, Safran made a significant acquisition of Zodiac Aerospace for over $9 billion, which bolstered its capabilities in aerospace systems. More recently, in 2024, Safran acquired Preligens, a company focused on defense technologies, further emphasizing its commitment to the military sector. Additionally, Safran's investment in Cranfield Aerospace Solutions, particularly in hydrogen-electric propulsion, showcases its forward-thinking approach to sustainable aviation, which could have implications for military applications as well. Overall, Safran operates globally with a strong focus on sustainability and technological advancement, making it a key player in the military aircraft manufacturing landscape.


2. Airbus

  • Website: airbus.com
  • Type: Corporate
  • Headquarters: Blagnac, Occitanie, France
  • Founded year: 2003
  • Headcount: 10001+
  • Number of deals in 2024: 6
  • LinkedIn: airbusgroup

Airbus SE is a leading aerospace manufacturer based in Blagnac, Occitanie, France, specializing in the design and production of commercial aircraft, helicopters, defense systems, and space technology. Founded in 2003, Airbus serves a global customer base, including airlines, military organizations, and space agencies, providing innovative solutions that enhance connectivity, security, and exploration. In recent years, Airbus has made strategic acquisitions to bolster its military capabilities, such as acquiring Aerovel in January 2024 to enhance its unmanned aerial system portfolio, responding to the growing demand for advanced mission capabilities. Additionally, the acquisition of Vector Aerospace Corp in June 2011 for approximately $648 million further solidified Airbus's position in the aerospace services sector, which includes military applications. Airbus's commitment to sustainability and advancing aerospace technology complements its role in the military aircraft manufacturing industry.


3. Thales

  • Website: thalesgroup.com
  • Type: Corporate
  • Headquarters: Meudon, Île-De-France, France
  • Founded year: 1979
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: thales

Thales Group is a technology company founded in 1979, headquartered in Meudon, Île-De-France, France. With over 10,000 employees, Thales specializes in designing, developing, and manufacturing advanced electrical systems and devices for various sectors, including aerospace, defense, transportation, and security. The company has made several strategic acquisitions to bolster its position in the military aircraft manufacturing context. Notably, Thales acquired THALES RAYTHEON Systems in 2016, enhancing its capabilities in defense systems. In 2024, Thales further expanded its portfolio by acquiring Cobham Aerospace Communications, which specializes in aerospace communication systems critical for military operations. Additionally, their acquisition of Tampa Microwave in 2011, a company focused on tactical satellite communications, highlights Thales's commitment to providing advanced communication solutions for military applications. These transactions reflect Thales's strategic focus on enhancing operational efficiency and safety in military aircraft systems.


4. Baillie Gifford

  • Website: bailliegifford.com
  • Type: Private Equity
  • Headquarters: Edinburgh, Scotland, United Kingdom (UK)
  • Founded year: 1908
  • Headcount: 1001-5000
  • Number of deals in 2024: 13
  • LinkedIn: baillie-gifford

Baillie Gifford & Co is an investment management firm based in Edinburgh, Scotland, founded in 1908. The firm specializes in managing equity, fixed-income, and multi-asset portfolios for professional investors, including institutions and high-net-worth individuals. With a research-driven approach, Baillie Gifford aims to deliver sustainable returns for its clients by focusing on long-term growth opportunities. In recent years, they have made significant investments in companies relevant to the military aircraft manufacturing sector. For instance, they participated in a $1.5 billion funding round for Anduril Industries, a company known for its defense technology solutions. They also co-led a $135 million funding round for Echodyne, which produces radar systems for defense and security applications, and invested in TEKEVER, a company specializing in unmanned aerial systems. These transactions highlight Baillie Gifford's engagement with firms that contribute to military capabilities, positioning them as a relevant investor in the military aircraft manufacturing space.


5. Ldc

  • Website: ldc.co.uk
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1981
  • Headcount: 51-200
  • Number of deals in 2024: 15
  • LinkedIn: ldc

Lloyds Development Capital (LDC) is a private equity firm based in London, England, founded in 1981. It specializes in providing growth capital and strategic support to mid-market businesses across various sectors. As part of Lloyds Banking Group, LDC aims to help management teams achieve their growth ambitions through investment and advisory services, fostering long-term partnerships to drive business success. Notably, LDC has made several acquisitions in the aerospace sector, including MB Aerospace, which specializes in aerospace engineering and manufacturing, and AIM Altitude, which provides cabin solutions for aircraft. These transactions highlight LDC's involvement in the aerospace industry, which encompasses military aircraft manufacturing, although its overall investment strategy spans multiple sectors.


6. Smiths Group plc

  • Website: smiths.com
  • Type: Corporate
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1851
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: smithsgroupplc

Smiths Group plc is a multinational engineering company based in London, England, founded in 1851. The company provides innovative solutions across various sectors, including energy, defense, and healthcare. It operates through four main divisions: John Crane, Smiths Detection, Flex-Tek, and Smiths Interconnect. Smiths Group has made significant investments in the aerospace sector, particularly through acquisitions that enhance its capabilities in military and aerospace applications. Notable transactions include the acquisition of Integral Aerospace in 2004, which bolstered their aerospace offerings, and the acquisition of Invensys Aerospace Businesses in 1999, which expanded their range of aerospace electronics. Additionally, the acquisition of Millitech in 2005, specializing in millimetre wave components and antenna systems, further strengthens their position in high-frequency communications and radar applications, critical for military aircraft manufacturing.


7. Kongsberg Maritime

  • Website: kongsberg.com
  • Type: Corporate
  • Headquarters: Kongsberg, Buskerud, Norway
  • Founded year: 1814
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: kongsberg-maritime

Kongsberg Maritime, part of Kongsberg Gruppen, is a corporate investor based in Kongsberg, Buskerud, Norway, specializing in advanced technology solutions across various sectors, including defense, aerospace, maritime, and digital industries. Founded in 1814, Kongsberg has a long history of innovation and collaboration with governments and industries to enhance safety and operational efficiency. Notably, Kongsberg Defence & Aerospace has made significant acquisitions, such as the purchase of NanoAvionics, a small satellite manufacturer, for an enterprise value of EUR 65 million in September 2022. This acquisition aims to bolster Kongsberg's capabilities in the aerospace sector, particularly in satellite technology, which is increasingly relevant for military applications. Kongsberg's strategic focus on defense technologies positions them as a key player in the military aircraft manufacturing landscape.


8. Saab

  • Website: saab.com
  • Type: Corporate
  • Headquarters: Stockholm, Stockholm, Sweden
  • Founded year: 1937
  • Headcount: 10001+
  • Number of deals in 2024: 1
  • LinkedIn: saab

Saab AB, founded in 1937 and based in Stockholm, Sweden, is a prominent aerospace and defense company that specializes in advanced military defense systems and civil security solutions. With a workforce of over 10,000 employees, Saab operates in more than 30 countries, focusing on enhancing global security and defense capabilities. The company has been actively involved in various strategic transactions to bolster its position in the military sector. Notably, Saab acquired Aerospace Monitoring and Systems (Pty) Ltd in 2005, which strengthened its avionics business, particularly in safety and monitoring systems relevant to military aircraft. In 2014, Saab acquired ThyssenKrupp Marine Systems, further expanding its defense capabilities. More recently, in 2023, Saab acquired Blue Bear Systems Group, enhancing its expertise in autonomous technologies, which are increasingly important in modern military aviation. Additionally, Saab's participation in funding rounds for Helsing, a defense AI technology developer, underscores its commitment to advancing military applications through innovative technologies. Overall, Saab's strategic investments and acquisitions demonstrate its active role in the military aircraft manufacturing industry.


9. Ultra Electronics Group


Ultra Electronics Group is a corporate investor based in London, England, specializing in defense technology solutions for military and government organizations. Founded with a commitment to research and development, the company focuses on advanced technologies that address complex security challenges. Notable transactions include the acquisition of Ultra Electronics Ocean Systems in 2003, which likely enhanced their maritime capabilities, and the acquisition of ProLogic in 2008, which strengthened their defense IT subsidiary. Additionally, their acquisition of Scytale in 2009 indicates a strategic move towards enhancing cybersecurity, a critical aspect of modern military operations. These transactions reflect Ultra's ongoing efforts to bolster their position in the defense sector, particularly in areas that could intersect with military aircraft manufacturing.


10. Hensoldt

  • Website: hensoldt.net
  • Type: Corporate
  • Headquarters: Taufkirchen, Bavaria, Germany
  • Founded year: 2017
  • Headcount: 5001-10000
  • Number of deals in 2024: 1
  • LinkedIn: hensoldt

Hensoldt AG, founded in 2017 and based in Taufkirchen, Bavaria, Germany, is a corporate investor specializing in defense technology, particularly sensor solutions for protection and surveillance missions. The company serves military and security organizations globally, focusing on advanced radar, optronics, and avionics systems. Hensoldt has made significant acquisitions to bolster its capabilities in the defense sector, including the acquisition of EuroAvionics GmbH, which enhances their portfolio in military avionics. Additionally, their acquisition of ESG Elektroniksystem- und Logistik-GmbH is expected to further strengthen their defense technology capabilities. Hensoldt's strategic investments and acquisitions demonstrate their commitment to innovation and operational effectiveness in military applications, making them a key player in the military aircraft manufacturing industry.


11. Cohort plc

  • Website: cohortplc.com
  • Type: Corporate
  • Headquarters: Theale, England, United Kingdom (UK)
  • Founded year: 2006
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: cohort

Cohort plc is a defense technology company based in Theale, England, founded in 2006. The company specializes in providing a range of advanced technology solutions and services to military and governmental clients. Cohort operates through several subsidiaries, offering products such as surveillance systems, sonar technology, and digital services, all aimed at enhancing defense capabilities. Notably, Cohort has made several strategic acquisitions to bolster its position in the defense sector. In 2016, they acquired EID SA for approximately $11.9 million, a company known for its defense and military communication systems. In 2018, they acquired Chess Dynamics, which specializes in advanced surveillance and targeting systems. These acquisitions indicate Cohort's commitment to expanding its capabilities in defense technologies, which are relevant to military aircraft manufacturing. Additionally, their recent acquisition of EM Solutions for $144 million further emphasizes their focus on enhancing communication and surveillance technologies that are critical in military operations.


12. Andera Partners

  • Website: anderapartners.com
  • Type: Private Equity
  • Headquarters: Paris, Île-De-France, France
  • Founded year: 1953
  • Headcount: 51-200
  • Number of deals in 2024: 10
  • LinkedIn: anderapartners

Andera Partners is a private equity firm based in Paris, Île-De-France, France, founded in 1953. The firm specializes in investment management, providing financial support and strategic guidance to companies across various sectors, including life sciences and infrastructure. In recent years, Andera Partners has made significant investments in companies with military applications. For instance, they acquired MC2 Technologies, which focuses on microwave microelectronics for anti-drone and hidden object detection, highlighting their engagement in defense technology. Additionally, their investment in SPHEREA, a company specializing in technological test solutions, further underscores their involvement in sectors that intersect with military needs. Overall, Andera Partners operates through a range of investment strategies tailored to meet the specific needs of their portfolio companies, including those in the defense sector.


13. Leonardo CAE Advanced Jet Training

  • Website: leonardocompany.com
  • Type: Corporate
  • Headquarters: Rome, Lazio, Italy
  • Founded year: 1948
  • Headcount: 51-200
  • LinkedIn: lcajt

Leonardo CAE Advanced Jet Training, based in Rome, Italy, is a corporate investor founded in 1948, specializing in technology solutions for aerospace, defense, and security. The company has a diverse portfolio that includes electronics, helicopters, and cyber security solutions, primarily serving governments and defense agencies. Notably, Leonardo has made strategic investments in the defense sector, such as acquiring a 25.1% stake in HENSOLDT, a German defense electronics company, for €606 million, positioning itself as a key player in the European aerospace and defense industry. Additionally, their acquisition of Ascendant Engineering Solutions further demonstrates their commitment to enhancing operational capabilities in military applications. Leonardo's focus on innovation and collaboration in the defense sector underscores its relevance in military aircraft manufacturing.


14. Montagu

  • Website: montagu.com
  • Type: Private Equity
  • Headquarters: London, England, United Kingdom (UK)
  • Founded year: 1968
  • Headcount: 51-200
  • Number of deals in 2024: 2
  • LinkedIn: montagu-private-equity-llp

Montagu Private Equity is a private equity firm based in London, England, specializing in investment management and growth strategies. Founded in 1968, Montagu focuses on mid-market companies and has a strong commitment to responsible investing. The firm partners with management teams across various sectors, including healthcare and financial services, to unlock their full potential through strategic investments and operational improvements. Notably, Montagu acquired Jane's, a military intelligence provider, for approximately $470 million in 2019, which positions them within the defense sector. This acquisition highlights Montagu's interest in military-related industries, although their primary focus remains on broader mid-market investments. Other transactions, such as the acquisition of Survitec and ADB SAFEGATE, further demonstrate their diverse investment portfolio, but these are less directly related to military aircraft manufacturing.



Military Aircraft Manufacturing Insights: Key Investors in Europe


InvestorHeadquarterSizeFoundedDeals 2024
SafranParis, Île-De-France, France10001+20059
AirbusBlagnac, Occitanie, France10001+20036
ThalesMeudon, Île-De-France, France10001+19795
Baillie GiffordEdinburgh, Scotland, United Kingdom (UK)1001-5000190813
LdcLondon, England, United Kingdom (UK)51-200198115
Smiths Group plcLondon, England, United Kingdom (UK)10001+18512
Kongsberg MaritimeKongsberg, Buskerud, Norway5001-1000018141
SaabStockholm, Stockholm, Sweden10001+19371
Ultra Electronics GroupLondon, England, United Kingdom (UK)5001-100000
HensoldtTaufkirchen, Bavaria, Germany5001-1000020171
Cohort plcTheale, England, United Kingdom (UK)1001-500020061
Andera PartnersParis, Île-De-France, France51-200195310
Leonardo CAE Advanced Jet TrainingRome, Lazio, Italy51-20019480
MontaguLondon, England, United Kingdom (UK)51-20019682


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