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A U.S. Air Force F-35A Lightning II aircraft, assigned to the 4th Fighter Squadron, is towed by members of the 34th Fighter Generation Squadron, both assigned to Hill Air Force Base, Utah, at the National Museum of the U.S. Air Force, Wright-Patterson AFB, Ohio, May 24, 2025.
Archive photograph · A U.S. Air Force F-35A Lightning II aircraft, assigned to the 4th Fighter Squadron, is towed by members of the 34th Fighter Generation Squadron, both assigned to Hill Air Force Base, Utah, at the National Museum of the U.S. Air Force, Wright-Patterson AFB, Ohio, May 24, 2025. Tech. Sgt. Daniel Peterson / DVIDS Taken 2025-05-24. public-domain; reuse terms. The appearance of U.S. Department of War (DoW) visual information does not imply or constitute DoW endorsement.

Hexcel cites temporary softness in a few fighter and space programs

The composites supplier attributed lower third-quarter Defense, Space & Other sales to industrial exits and temporary program softness. Commercial aerospace sales grew year over year.

Hexcel attributed its third-quarter 2026 Defense, Space & Other sales decline primarily to industrial business exits and temporary softness in a few fighter and space programs. It cited the F-35, an unnamed international fighter program, launchers and rocket motors.1

Commercial aerospace leads Hexcel's quarterly sales

Q3 2026 sales by market, USD millions, as reported

Commercial Aerospace$330.3M
Defense, Space & Other$166.1M

Defense, Space & Other includes industrial businesses.

Source: Hexcel Q3 2026 earnings release, Exhibit 99.1. As of Oct. 21, 2026.

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The company divested a non-core Austrian industrial business at the end of September 2025 and closed a non-core industrial business in Leicester, UK, earlier in 2026.1

Defense, Space & Other sales totaled $166.1 million in the quarter ended Sept. 30, down from a year earlier. Commercial aerospace sales rose year over year to $330.3 million, Hexcel reported Oct. 21.1

Through September 2026, Defense, Space & Other sales fell 6.8% from a year earlier. Sales for that period totaled $517.6 million. Hexcel kept its full-year sales and adjusted diluted earnings-per-share forecasts unchanged.1

Also announced

Hexcel's board raised its share repurchase authorization to $750 million on Oct. 21. The remaining authorization had been $380.6 million.2 The company repurchased no shares during the third quarter.1

The combined category makes the decline an imprecise measure of Hexcel's defense and space sales: Hexcel's explanation does not quantify the separate effects of industrial exits and program softness.1

Sources (2)
  1. Hexcel Q3 2026 earnings release, Exhibit 99.1 (Oct. 21, 2026) www.sec.gov
  2. Hexcel Form 8-K, Items 2.02, 7.01, 8.01 (Oct. 21, 2026) www.sec.gov
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Industry · Combat aircraft

Eurofighter sees opportunities to sell 200-plus jets, Breaking Defense reports

The consortium’s potential export tally has grown, but its production ramp-up plans received no update at the Munich conference, Breaking Defense reports.

Eurofighter identified opportunities to sell more than 200 fighters in an infographic presented at this week's International Fighter Conference in Munich, Breaking Defense reported Nov. 5. That potential export tally has increased from 134 aircraft presented at the 2025 conference.1

Market opportunities to sell more than 200 Eurofighter jets

at the International Fighter Conference

Turkey and Saudi Arabia78 aircraftcontingent

Potential new deals include second-batch orders from Turkey and Saudi Arabia totaling 78 aircraft

Austria36contingent

closing an Austria order would add 36

A breakdown of customers and quantities for 86 or more of the 200-plus aircraft was not shared

Reported by Breaking Defense

Sources
TGOs tgos.io

The figure represents prospective sales. Potential second-batch orders for Turkey and Saudi Arabia account for 78 aircraft, while closing an Austrian order would add 36. The consortium provided no customer-and-quantity breakdown for 86 or more aircraft in the projection.1

The consortium has long expressed interest in exporting to countries like Portugal, Poland and Bangladesh. In Portugal, Airbus leads Eurofighter’s campaign to replace the country’s aging F-16s, competing with the F-35, Gripen and Rafale. An Airbus spokesperson told Breaking Defense that the proposal would be formally submitted by the end of this year.1

Poland is considering a contract for 32 additional fighters. It could buy more F-35s after securing a $4 billion U.S. Foreign Military Financing loan in September, the outlet reported.1

Existing production commitments provide a separate measure of Eurofighter’s business. Conference figures showed 60 aircraft in production under contracts with Spain, Germany and Kuwait. Recent orders, including Turkey’s, account for another 89 aircraft set for future production.1

No update on Eurofighter’s production ramp-up plans was provided, Breaking Defense reported. Eurofighter CEO Degenhardt said last year he is targeting 30 aircraft a year beginning in 2028, based on securing new export business.1

Sources (1)
  1. Breaking Defense: Eurofighter eyes sales of 200 additional aircraft (Nov. 5, 2026) breakingdefense.com

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Industry · Autonomous combat aircraft

Shield AI says X-BAT per-aircraft cost could fall to $25 million, Breaking Defense reports

Breaking Defense reports a higher-end sensor configuration could add $10 million. Shield AI aims to begin production in 2029.

Shield AI cofounder and chief strategy officer Ryan Tseng said the X-BAT's per-aircraft cost could be brought down to $25 million, Breaking Defense reported Nov. 4 from Munich. The autonomous fighter is designed for vertical takeoff and landing.1

Per-aircraft cost for the X-BAT could be brought down to $25 million

Shield AI cofounder Ryan Tseng

per-aircraft cost$25 millioncontingent

a per-aircraft cost for the X-BAT could be brought down to $25 million

higher-end sensor configurationextra $10 millioncontingent

customers could expect to pay an extra $10 million

Reported by Breaking Defense, Nov. 4, 2026

Sources
TGOs tgos.io

The cost case reported by Breaking Defense remains prospective.1 Shield AI has completed its first full-scale prototype and is moving it from Frisco, Texas, to its flight-test facility in Newton, Kansas.2

Tseng said customers wanting a higher-end sensor configuration could expect to pay an extra $10 million, according to Breaking Defense. He put the baseline at around a quarter of the cost of a Eurofighter or an F-35 in Europe. The article gives no cost basis for that comparison or production quantity assumed for the X-BAT price.1

Andrew Hawkes, Shield AI's X-BAT director for Europe, told the outlet the company has several active sales campaigns across the continent, but declined to name customers. Tseng said European orders and regional partnership agreements would be announced soon; he declined to disclose aircraft quantities.1

Shield AI's path to production still runs through prototype testing. The company plans engine runs, then crane-suspended testing, before untethered flights. It aims to fly the missionized aircraft in 2028 and enter production in 2029.2

Sources (2)
  1. Breaking Defense: Shield AI cofounder teases 'snowball' of X-BAT fighter drone announcements in Europe (Nov. 4, 2026) breakingdefense.com
  2. Shield AI: We Built the First X-BAT Prototype in One Year. Now We Put it to the Test. shield.ai