What You Need to Know in A&D – CSG, Airbus Forecast, SAMP/T, Air Defense

Research evidence excerpt

What You Need to Know in A&D – CSG, Airbus Forecast, SAMP/T, Air Defense

EUROPE | Aerospace & Defense Electronics EquityJulyResearch9, 2026

What You Need to Know in A&D — CSG, Airbus Airbus model MTU model • •

BAE Systems RENK modelForecast, SAMP/T, Air Defense • •

model Rheinmetall •

CSG model modelIn this document, we present the key news impacting the European A&D sector. •

Today, we explore: Les Echos reports CSG in the process of acquiring Dixi • Dassault • Rolls-Royce

Aviation model model

Microtechniques, Airbus trims industry forecast for passenger aircraft demand Hensoldt model Safran model • •

Leonardo Thales modelby 1%, Macron says work ongoing with Turkey & Italy on SAMP/T, Sweden and • •

Germany sign letter of intent on air defense, and our recent Airbus June O&D, model

Flight Log, and GTF AoG tracker notes.

CSG (Buy): CSG reportedly not allowed to buy stake in KNDS, looks at fuse

manufacturer

Les Echos reported on Wednesday that CSG faced a refusal from the French State and the German

families regarding its proposal to take a stake in KNDS. However, the article reports that CSG is now

in the process of potentially acquiring Dixi Microtechniques, a manufacturer of fuses for bombs and

ammunition. Dixi is also a supplier to KNDS and Rheinmetall. The article states that Dixi has annual

revenue of c. €30m. France's Ministry of Economy has confirmed that the case is under review by

the Treasury's foreign investment screening authority, given the company's strategic importance.

The potential acquisition of Dixi Microtechniques would further deepen CSG's vertical integration on M/

L ammunition, although we note that the area of tightness remains the propellant and explosives, until

full vertical integration is achieved by the end of 2027.