Saab Accelerates Tech Push on Multiple Fronts, But Share Price Remains Under Pressure
Published on 06/26/2026 at 16:47 | Redaktion boerse-global.de
The Swedish defense group is making aggressive moves on both the hardware and software fronts, even as its stock languishes near 52-week lows. From a next-generation radar and a stake in an artificial intelligence startup to the completion of a key fighter jet delivery, Saab’s operational momentum is building — yet investors have so far failed to reward the narrative.
European AI Challenge to Palantir
Saab has invested €11.1 million for a 10% stake in Comand AI, a Paris-based start-up that develops AI-powered planning solutions for military command posts. The technology will be integrated into Saab’s own command-and-control systems and into the GlobalEye airborne early warning platform. The strategic goal is clear: offer European armed forces a credible alternative to Palantir’s Maven system, which currently dominates NATO battlefield management. After an initial rollout with ground forces, Saab plans to extend the capability to naval and air operations.
New Radar Generation Draws Orders
At the Eurosatory defense exhibition in Paris, Saab unveiled the Giraffe AMB D radar. Using advanced AESA technology, the system can track thousands of targets at ranges of up to 250 kilometres. It can be set up in less than three minutes, with an extendable mast raising the antenna to 16 metres. Demand for the existing Giraffe family remains robust: Denmark recently converted a lease of several Giraffe 1X systems into a firm purchase after a six-month trial. France and the US Army had previously ordered double-digit numbers of the same system.
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Hungary’s Gripen Fleet Complete
On 23 June, Saab delivered the final two Gripen C fighters to Hungary, fulfilling a contract signed in January 2024. The jets arrived at Kecskemét air base, bringing Hungary’s active Gripen C/D fleet to 18 aircraft. The first two from this order were handed over in April. The new machines are built to the MS20 Block 2 standard, featuring an improved PS-05/A Mk4 radar with greater detection range, enhanced Link-16 data-link capabilities, and the latest NATO Mode 5 identification friend-or-foe system. Lars Tossman, head of Saab’s Aeronautics business unit, noted that existing support agreements should keep the Hungarian fleet operational for at least another decade.
Ukraine Pipeline Takes Shape
Beyond Hungary, Saab’s Gripen pipeline remains active. Sweden has earmarked up to 16 Gripen C/D for donation to Ukraine, while Kyiv intends to purchase up to 20 new-build Gripen E/F. The Swedish government has already allocated funds to cover replacement aircraft.
Pruning the Portfolio
To sharpen its focus on core defense technology, Saab is selling its Public Safety Solutions division to Norway’s Omda AS. The unit — which supplies software to police and fire services — will transfer around 75 employees and a revenue base of roughly 80 million Swedish kronor. Saab will receive 15 million kronor upfront, with an additional earn-out of up to 45 million kronor. The transaction is expected to close in the fourth quarter of 2026. To improve comparability after the divestment, Saab will shortly publish adjusted historical financial figures; the company stressed that previously reported revenues remain unchanged.
Stock Under Pressure Despite Good News
None of this activity has soothed the market’s mood. Saab’s shares trade at $25.08, a decline of 17.5% since the start of the year and only 8% above the 52-week low of $23.29. The stock has shed nearly 40% from its January 2026 peak of $40.77. Technical indicators are flashing caution: the relative strength index stands at 34, nearing oversold territory, and the stock is trading well below both its 50-day moving average of $28.79 and its 200-day moving average of $30.84. All eyes now turn to the second-quarter report, due on 17 July, when updated order intake figures and any fresh commentary on production capacity will be scrutinized.
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