Booming demand drives surge in Saab's Q2 earnings

Already riding consecutive years of surging demand driven by rapid rearmament across much of Europe due to Russia's war in Ukraine, the pace has picked up still further for Saab in recent months with a string of huge orders.

Saab, which competes with giants such as US Lockheed Martin, France's Dassault Aviation and Britain's BAE Systems, said order bookings soared 141 per cent year-on-year in the quarter.

Saab is set to produce new Gripen E fighters to Ukraine and could see Brazil adding 20 more of the aircraft to its existing fleet while the company has also inked a $4.8 billion contract with Poland for three A26-type submarines.

Meanwhile, NATO has announced plans to buy Saab's GlobalEye surveillance planes as has Canada.

(Reporting by Niklas Pollard, editing by Essi Lehto and Susan Fenton)