Owned 50.1% by the State of Finland and 49.9% by Norwegian Kongsberg Defence & Aerospace, Patria forms a leading Nordic defence partnership that includes 50% ownership of Nammo. New orders in 2024 reached €1,258.2 million, with net sales climbing 12% year-over-year to €421.0 million in H1 2025, driven by robust NATO rearmament efforts.
Cyborg Score Rationale
Patria's net sales grew from €534.1 million in 2020 to €825.7 million in 2024, driven by heightened European demand for armored vehicles and artillery systems following Russia's invasion of Ukraine and Finland's NATO accession in April 2023. Strategic positioning in F-35 supply chain and CAVS programme expansion provide long-term visibility. Strong government backing and Kongsberg partnership reduce execution risk.
Top Insights
Patria has received orders for over 750 to 800 Patria 6x6 armoured vehicles with over 200 units delivered under the CAVS programme across Finland, Latvia, Sweden and Germany.
Patria signed a Memorandum of Agreement with Lockheed Martin in June 2023 to produce forward fuselage assemblies for F-35 fighter aircraft in Finland.
In summer 2024, Patria acquired Nordic Drones, a Finnish manufacturer of professional drone systems, adding three drone platforms: Patria SKY, Patria ONE, and Patria GEO.
Patria OPTIME is a manufacturer-independent data-driven concept for sustainment of military equipment, ensuring performance and cost-effective fleet operations.
Named Competitors
Protected Mobility Vehicles — German defence manufacturer producing armoured vehicles and systems