Dassault Aviation’s defense activities generally contributed a stronger boost to its business jet unit in half-year financial results announced today. During a press conference in Paris outlining its first-half results, group CEO Éric Trappier warned that an unfavorable outcome to ongoing negotiations between the U.S. government and the EU over tariffs could dent Falcon sales.
During the first six months, total order intake at Dassault grew by 57%, to €8.1 billion ($9.5 billion), from the €5.1 billion recorded in the same period last year. With eight Falcon business jets ordered during the first half—three less than last year—this generated €900 million in orders, which was slightly down on last year’s tally of €1 billion.
By comparison, the group’s defense unit recorded orders worth €7.2 billion from export customers and its home customer, the French government. A highlight of the first half of the year was an order in April from India for 26 Rafale Marine combat airplanes, representing the first export order for this type.
Twelve Falcons were delivered during the first half, unchanged from the first six months of last year. Trappier reported that the 6X fleet has now logged more than 3,400 flight-hours.
Dassault’s engineering team is now intently focused on development of the new Falcon 10X. Trappier declined to say when the first flight is expected, pointing instead to the larger cabin this will bring to the long-range segment of the private aviation market.
Net Sales Grow
Net sales during the reporting period reached €2.8 billion, which was 12% up YOY from €2.5 billion. This was bolstered by an increase in military export orders, but 12 Falcon sales worth €1.1 billion were also part of the mix, and this was slightly higher than last year.
The group’s backlog of orders grew by 12% to €48.3 billion, which again was mainly due to military export successes now covering 186 aircraft worth €35.2 billion. By contrast, the Falcon backlog, as of June 30, stood at 75 jets, worth €4.7 billion, which was slightly down on the 79-aircraft tally in the first half of 2024.
Dassault’s latest guidance to financial analysts anticipated year-end net sales of €6.5 billion. This envisages an uptick in new sales for the remainder of 2025 that could include 40 Falcons and 25 Rafales.
As part of efforts to boost Falcon sales in export markets with potential growth, in June Dassault announced plans to start manufacturing 2000LXS twinjets at Mihar in India through a new joint venture called Dassault Reliance Aerospace Ltd. As part of the wider “Made in India” strategy that underpins the country’s Rafale order, Falcon 2000 fuselage and wing assembly will move to the plant in Northern India to support the first locally-made aircraft rolling off the new line in 2028.
Trappier: Tariffs Are ‘a Thorn in Our Side’
Trappier described the tariffs threatened by the Trump administration against the EU as “a thorn in our side” and that there is no way they can be accepted by the aviation industry since they would wipe out Dassault’s 6% operating profit. He called on European leaders to “fight” for a return to the 1979 trade agreement that included zero tariffs across the aviation sector.
Acknowledging that U.S. manufacturing is generally more competitive than European rivals, he pointed to Dassault’s existing completions facility in Little Rock, Arkansas. Asked by reporters about prospects for having a U.S. final assembly line for Falcons, Trappier concluded, “This is a question everyone is trying to address, including us.”
During the first half of 2025, self-financed research and development spending dipped from €200 million to €182 million. The group’s consolidated available cash increased from €8.4 billion at the end of 2024 to €9.5 billion at the end of June.
As part of ongoing efforts to boost productivity, Dassault is making investments at its French facilities in Cergy, Martignas, Méreignac, and Istres. Trappier said that the wider industry continues to struggle with supply-chain pinch-points as financially weakened suppliers struggle to remain competitive. He emphasized Dassault’s determination to recruit more women across its business as part of a concerted effort to strengthen its workforce.