Non-US Aerospace/Defense Companies & Contracts

BELFAST -- German defense giant Rheinmetall released its semi-annual financial report for the first half of 2026 on Aug. 6, confirming a $346 million drop in projected naval business earnings stemming from Germany's cancellation of the F-126 frigate program. Despite the drop in expected revenue, the company's sales for the first half of the year were still expected to reach around $16.13 billion. The earnings significantly outpace the company's 2025 sales, valued at $11.2 billion.

The German Navy had originally planned the purchase of six F-126 frigates from Dutch shipbuilder Damen. The program ran into significant delays and cost overruns, leading the project to be transferred to Naval Vessels Lurssen (now a subsidiary of Rheinmetall) in January 2026. Initially it seemed as if Berlin would attempt to pursue the project in new hands, however following assessments that a transfer to NVL could cost over $20 billion, the government formally axed the program in June.

Berlin will instead procure up to eight smaller MEKO A-200 frigates from German shipbuilder ThyssenKrupp Marine Systems (TKMS). Despite the setback, Rheinmetall is still pursuing a growth policy in its recently-acquired naval business.

Source: Breaking Defense
Associated URL: https://breakingdefense.com/2026/08/rheinmetall-projects-346-million-naval-loss-after-f126-frigate-cancellation/
Author: Tim Martin 

CALGARY -- Czech defense conglomerate CSG has invested in Canadian defense tech company North Vector Dynamics (NVD) in what a spokesperson has deemed a strategic move to expand CSG’s technological abilities in air defense, C-UAS, radar technology, autonomous systems, and missile propulsion systems. In addition to the investment, of which financial details have not been disclosed, NVD will gain CSG’s industrial base, expertise, integration opportunities within its own systems, and an extensive international commercial network.

One of NVD’s flagship products is its CM-70 C-UAS missile, a precision-guided interceptor designed to eliminate UAS threats at a fraction of the cost of conventional effectors. The CM-70 is compatible with NATO C2 systems and can therefore be integrated into existing layered air defense capabilities.

Source: CSG
Associated URL: https://csg.com/en/news/csg-invests-in-north-vector-dynamics-a-canadian-missile-systems-developer-advancing-autonomy-precision-interception-and-hypersonic-technologies

LISOBON -- Tekever’s AR5-based Project Corvus tactical uncrewed aerial system (UAS) is set to replace the British Army’s ageing Watchkeeper fleet, with the overall program potentially worth EUR400 million ($534 million). The initial contract, valued by the UK Ministry of Defence (MoD) at EUR136 million, will cover at least five years, with deliveries expected to begin later in 2026 pending final approvals.

The twin-engined AR5 offers up to 20 hours of endurance and can carry mixed sensor payloads weighing up to 50kg, providing persistent intelligence, surveillance, and reconnaissance (ISR) capabilities. Tekever says the system has accumulated more than 50,000 operational flight hours in Ukraine since 2022. Corvus aircraft will be manufactured at Tekever’s new Swindon facility, while testing and training will occur in Wales. The program emphasizes continuous capability upgrades under UK sovereign control. Watchkeeper equipment is scheduled for complete withdrawal by March 2027.

Source: Flight Global
Associated URL: https://www.flightglobal.com/defence/2026/08/tekever-will-launch-ar5-deliveries-to-british-army-before-year-end-under-corvus-deal/
Author: Craig Hoyle