Saab receives order for RBS 70 NG from Latvia
Rhea-AI Summary
Saab (SAABY) has secured a significant framework agreement with the Latvian Ministry of Defence for their RBS 70 NG short-range ground-based air defence system. The initial order, valued at SEK 2.1 billion, includes RBS 70 NG firing units, missiles, and trainer units, with deliveries scheduled for 2026-2030.
The RBS 70 NG system is equipped with advanced features including an automatic target tracker and built-in night sight. It can effectively counter aerial threats such as aircraft, drones, and missiles at ranges up to nine kilometers. This capability enhancement aligns with Latvia's efforts to strengthen its national air defense infrastructure.
Positive
- Secured major contract worth SEK 2.1 billion with Latvian Ministry of Defence
- Multi-year revenue stream with deliveries spanning 2026-2030
- Strengthens Saab's position in European defense market
Negative
- None.
News Market Reaction
On the day this news was published, SAABY gained 1.18%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
The order includes RBS 70 NG firing units and missiles as well as trainer units.
"Saab continues to support the Latvian National Armed Forces with a strong ground-based air defence capability which will significantly enhance its crucial ability to detect and engage aerial threats," says Görgen Johansson, head of Saab's business area Dynamics.
The RBS 70 NG system features an automatic target tracker and a built-in night sight and provides the user with capability to defeat threats including aircraft, drones and missiles from distances of up to nine kilometres.
Contact
Mattias Rådström
Head of Media Relations
+46 (0)734 180 018
mattias.radstrom@saabgroup.com
Saab is a leading defence and security company with an enduring mission, to help nations keep their people and society safe. Empowered by its 25,000 talented people, Saab constantly pushes the boundaries of technology to create a safer and more sustainable world. Saab designs, manufactures and maintains advanced systems in aeronautics, weapons, command and control, sensors and underwater systems. Saab is headquartered in
The information is such that Saab AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, on 31 March 2025 at 13.20 (CET).
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FAQ
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