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Last updated : 15/09/2026 - 16h49
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Air Defense: Thales and MBDA to Develop Multilayer SAMP/T NG for France

France has commissioned Eurosam (a Thales-MBDA joint venture) to develop a multilayer version of the SAMP/T NG ground-to-air system, in cooperation with Italy. This program aims to equip the armed forces with an air defense capability capable of simultaneously handling multiple types of threats, from drones to cruise missiles, across various altitudes and ranges.


Air Defense: Thales and MBDA to Develop Multilayer SAMP/T NG for France

A Dual-Layer Architecture Combining Two Missile Families

The new system is based on the convergence of two complementary families: the Aster for medium and long-range interceptions, and the Mica VL for short range. This combination is intended to extend the spectrum of defendable targets: the Aster 30 Block 1NT has a range of 150 km and an interception altitude of 20 km, while the Mica VL covers a range of 20 km and an altitude of 10 km. This architecture allows the interceptor to be tailored to the nature of the targeted threat, from low-altitude objects to more complex high-altitude targets.

A Delivery Schedule Starting from 2030

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The 2024-2030 military programming law schedules the delivery of eight SAMP/T NG sections starting from 2030, according to the Directorate General of Armaments (DGA). This timeline places the program on a long-term trajectory for modernizing French ground-to-air defense capabilities.

A Lever for European Industrial Sovereignty

The SAMP/T NG stands as a sovereignty program in a sector dominated by the American Patriot and the Russian S-400. By relying on a Franco-Italian supply chain and European industrialists, the system strengthens the technological and operational autonomy of the continent. This program also marks a milestone in cooperation between Paris and Rome in the critical field of air defense, at a time when Europe is focusing on its strategic independence in the face of rapidly evolving threats (saturation attacks, drones, hypersonic systems).



Sector Aéronautique et Défense Défense


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Context

Period
  • Period: S1 2026
Key reported figures
  • Revenue: 10 949 millions d'euros
  • Quarterly revenue: 10 949 millions d'euros
  • Revenue growth: 6,7 %
  • EBITDA: 1 150 millions d'euros
  • Net income: 485 millions d'euros
  • Free cash flow: 1 865 millions d'euros
  • 519,2 millions d'euros
Risks mentioned
  • Résiliation du programme F126 par l'Allemagne : charge exceptionnelle de 450 M€, impact de 331 M€ sur le résultat net
  • Annulation d'une commande de deux satellites géostationnaires, impact d'environ -150 M€ sur les ventes Spatial
  • Marge Cyber & Digital en baisse à 10,9 % contre 14,4 %, notamment dans les Paiements et l'Identité/Biométrie
Opportunities identified
  • 18 grandes commandes de plus de 100 M€ pour 4 850 M€, dont 11 au deuxième trimestre
  • Carnet de commandes Défense de 41,1 milliards d'euros, soit environ 3,2 années de chiffre d'affaires
  • Très forte progression au Proche et Moyen-Orient (+202 % en organique en prises de commandes)
Outlook / guidance
  • Expected revenue: 23 600 millions d'euros
  • Management commentary: Organic sales growth expected between +6% and +7%, corresponding to sales of €23.3 to €23.6 billion; Adjusted EBIT margin expected between 12.6% and 12.8%

The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.

Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.

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