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Last updated : 15/09/2026 - 17h35
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Safran and Theon Sign Memorandum of Understanding to Form a Joint Venture in Drone Optronics

Safran Electronics & Defense and Theon International have signed a memorandum of understanding to establish a joint venture dedicated to the design, development, and marketing of embedded electro-optical and infrared systems for unmanned aerial vehicles. The partnership will combine the complementary strengths of both groups in a rapidly growing segment of the defense market.


Safran and Theon Sign Memorandum of Understanding to Form a Joint Venture in Drone Optronics

Lightweight Gimbals for Surveillance, Reconnaissance, and Targeting

The joint venture will bring together Safran Electronics & Defense's expertise in electro-optical systems and stabilized gimbals with Theon's in sensors and advanced optronic technologies. The developed solutions will target gimbals weighing less than 8 kilograms, intended for intelligence, surveillance, and reconnaissance (ISR) capabilities as well as targeting applications for the defense and security markets.

The partners aim to offer platform-independent solutions, covering the entire operational spectrum and promoting large-scale deployment at controlled costs.

Strengthening European Technological Sovereignty

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Alexandre Ziegler, director of the Defense unit at Safran Electronics & Defense, stated that this partnership accelerates the development of next-generation solutions and consolidates the group's leadership in electro-optical systems, while also strengthening European technological sovereignty in a critical area of defense.

Christian Hadjiminas, founder and CEO of Theon, described this collaboration as a "major turning point" for his group, combining its strengths with those of a global leader in one of the most dynamic segments of the defense market.



Sector Aéronautique et Défense Aéronautique / spatiale


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Context

Period
  • Period: S1 2026
Key reported figures
  • Revenue: 17 245 millions d'euros
  • Quarterly revenue: 17 245 millions d'euros
  • Revenue growth: 16,8 %
  • EBITDA: 3 410 millions d'euros
  • EBITDA margin: 19,8 %
  • Net income: 1 750 millions d'euros
  • -1 667 millions d'euros
Outlook / guidance
  • Management commentary: Perspectives 2026 (données ajustées) : Safran relève ses objectifs et vise désormais une augmentation du chiffre d'affaires de l'ordre de 15 % (contre 12 % à 15 % auparavant), un résultat opérationnel courant de 6,4 à 6,5 Mds€ (contre 6,1 à 6,2 Mds€ auparavant) et un cash-flow libre de 4,7 à 4,9 Mds€ (contre 4,4 à 4,6 Mds€ auparavant).

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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