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Hensoldt

From Wikipedia, the free encyclopedia
German defense and aerospace company
Hensoldt AG
Company typePublic (Aktiengesellschaft)
IndustryDefence,electronics,aerospace
PredecessorAirbus DS Electronics and Border Security
FoundedFebruary 28, 2017; 8 years ago (2017-02-28)
Headquarters,
Area served
worldwide
Key people
Oliver Dörre (CEO)
ProductsElectronic equipment,avionics,radars,telecommunications equipment,software
RevenueIncrease1.47 billion (2021)[1]
Increase€-14 million (2021)[1]
Increase€-36 million (2021)[1]
Total assetsDecrease€2.76 billion (2021)[1]
Total equityDecrease€1.86 billion (2021)[1]
OwnerGerman government (25.1%)
Leonardo S.p.A. (22.8%)
Public float (52.1%)
Number of employees
6,316[1] (December 2021)
DivisionsHensoldt Sensors, Hensoldt Optronics, GEW Technologies, EuroAvionics Holding,Kelvin Hughes,Nexeya
Websitehensoldt.net

HensoldtAG(HENSOLDT) is amultinational corporation headquartered inGermany which focuses on sensor technologies for protection andsurveillance missions in thedefence,security andaerospace sectors. The main product areas areradar,optoelectronics andavionics. Hensoldt's main office is inTaufkirchen near Munich,Germany.

On 25 September 2020, Hensoldt AG was listed in the Prime Standard of theFrankfurt Stock Exchange at an issue price of 12.00 euros. Based on the issue price, the market capitalisation amounted to 1.26 billion euros.[2]

History

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The company originated from the electronics business unit of thedefence division of theAirbus. At the end of February 2017, Airbus sold this business unit to the US financial investorKKR[3][4][5] for 1.1 billion euros.[6] Since December 2020, the government of Germany holds a minimum share,[7] which is managed by theFederal Ministry of Defence (BMVg).

Since 2017, the company has been known as Hensoldt. The company's name can be traced back to Moritz Carl Hensoldt (1821–1903), a German pioneer ofoptics and precision mechanics in the 19th century. In 1852, he founded an optical workshop for telescopes, astronomical equipment and microscopes.[8][9]

In 2019, news agency Reuters reported that KKR was in the process of preparing for a listing of 20-30% on the stock exchange or a sale of Hensoldt.[6]

In 2023, Hensoldt acquired defence systems integratorESG Elektroniksystem for an enterprise value of 675 million euros ($727.79 million), along with anearn-out of up to 55 million euros.[10]

Corporate structure

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The Hensoldt Group's holding structure includes the following direct and indirect operating subsidiaries (as of September 2019):

Activities

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Radar

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Hensoldt TRML-3D radar

Hensoldt develops and manufactures radar systems for the purposes ofsurveillance,reconnaissance,air traffic control andair defence. These radars are used on such platforms as theEurofighter, the German Navy'sF125 frigates and the US Navy'slittoral combat ships and ground-based systems. In September 2017, Hensoldt acquired the British radar manufacturerKelvin Hughes from the private equity firmECI.[17][18]

Ground based air defense sensors includeTRML-3D[19] and TRML-4D[20][21][22] active radar andTwInvis [de]passive radar.[23][24] Hensoldt claims to have detected twoF-35 fighter jets as they were leaving from theILA Berlin Air Show in 2018 with their passive TwInvis radar system.[25][26] Naval air defense radars includeTRS-3D [de][27] and TRS-4D in fixed panel[28] and rotator[29] variants.

Optronics

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Hensoldt manufactures optical and optronic devices for military and civil security applications. The main components of these devices are daylight cameras,thermal imagers,image intensifiers andlaser rangefinders. The systems are used on various platforms for air, ground, sea and space missions as well as for the protection of infrastructures and borderlands.[30] The optronic systems are used on board thePuma infantry fighting vehicle,Leopard main battle tank,212 and209 type submarines,[31]Gripen andRafale combat aircraft,AHRLAC reconnaissance aircraft,Baykar TB2 UAV, theCamcopter,Diamond DA42, and theEDRS-A satellite. In addition to this, Hensoldt also manufacturessights, targeting optics and optical systems deployed in theLeopard 2 main battle tank,PzH 2000 self-propelled howitzer,NH90 andTiger transport and combat helicopters, as well as in the“Future Soldier” programme for modernising the infantry of theBundeswehr, the German Armed Forces.[32]

Avionics

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The main system manufactured is the Sferion Pilot Assistance system, which allows for safe flight operations in a degraded visual environment.[33] Products also includesituational awareness systems, military mission computers andflight data recorders for helicopters and fighter aircraft. The company has set up the air traffic control network of theGerman Air Force, covering an airspace of 1,700 x 1,500 kilometres, by equipping airports used by the air force with ASR-S surveillance radar.[34] Further air traffic control radars by Hensoldt are under contract for Great Britain, Australia and Canada.[35] In August 2017, Hensoldt acquired the German-based company EuroAvionics GmbH, a supplier of civil avionics systems for helicopters and UAVs.[14]

Electronic warfare

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Hensoldt's product portfolio for electronic warfare includes 'Kalaetron' family of airborne electronic warfare system, including "Kalaetron Attack" aimed at jamming enemy radars.[36]The company is also a manufacturer of systems for acquiring and analysing radar and radio signals as well as equipments which offer protection for convoys and individual vehicles from attacks byimprovised explosive devices (IED).[37] The company developedMUSS, an operational electronic self-protection system for armored vehicles, which is integrated into the German Armed Forces’Puma infantry fighting vehicle.[38][39]

Controversies

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In October 2018, the German government imposed a ban on arms exports to Saudi Arabia, citing theassassination of Jamal Khashoggi.[40][41] However, in September 2022, reports revealed that despite the government embargo, Hensoldt continued to sell arms to the Arab nation. In 2019, the firm indulged in a deal for the establishment of a joint venture with the Kingdom's state-owned arms manufacturer,Saudi Arabian Military Industries (SAMI). The German firm also used its subsidiaries in theUnited Kingdom,France andSouth Africa to continue supplying arms to Riyadh, as the foreign branches were not subjected to the German arms embargo. In 2020, Saudi required radars for its border withYemen, where the United Arab Emirates and Saudi-led coalition were waging a deadlywar. While hundreds of thousands of people, including civilians, died in theYemen war, Hensoldt's boards members were in talks to win the contract. Moreover, Hensoldt had been acting as a subcontractor, supplying components toSpanish and French manufacturers, who continued the arms exports to Saudi Arabia.[42]

References

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  1. ^abcdefHensoldt (2022)."HENSOLDT 2021 Annual Report"(PDF).
  2. ^Clinch, Matt (2020-09-25)."Shares of KKR-owned defense firm slide on market debut in Frankfurt".CNBC. Retrieved2020-09-30.
  3. ^"Airbus Group To Sell Defence Electronics To KKR for € 1.1bn" (Press release). Airbus Group. 17 March 2016. Retrieved30 June 2017.
  4. ^"New European defence company HENSOLDT launched" (Press release). Hensoldt. 28 February 2017. Archived fromthe original on 19 June 2018. Retrieved30 June 2017.
  5. ^"Airbus completes divestment of Defense Electronics unit to KKR".www.reuters.com. Reuters. 28 February 2017. Retrieved12 January 2018.
  6. ^abArno Schuetze and Sabine Siebold (September 5, 2019),KKR to sell or float German defence supplier Hensoldt: sourcesReuters.
  7. ^"News Detail | HENSOLDT". Archived fromthe original on 2022-12-07. Retrieved2020-12-31.
  8. ^Porezag, Karsten (2001).Hensoldt. Geschichte eines optischen Werkes in Wetzlar. Band 1: Familien- und Gründungsgeschichte bis 1903 (in German). Wetzlar: Karsten Porezag.
  9. ^Leinhos, Roland (1969)."Hensoldt, Moritz" in: Neue Deutsche Biographie 8 (in German). p. 565.
  10. ^Devika Nair and Disha Mishra (5 December 2023),Hensoldt acquires ESG Elektroniksystem in $728 million deal Reuters.
  11. ^ab"New Defence Champion HENSOLDT to be given Holding Structure" (Press release). Hensoldt. 15 March 2017. Retrieved16 November 2017.[permanent dead link]
  12. ^"HENSOLDT grows industrial footprint in the UK" (Press release). Hensoldt. 9 September 2019. Retrieved9 September 2019.
  13. ^"HENSOLDT acquires NEXEYA activities" (Press release). Hensoldt. 7 October 2019. Retrieved7 October 2019.
  14. ^abAnderson, Guy (17 August 2017)."Hensoldt completes EuroAvionics deal". IHS Jane's. Retrieved16 November 2017.
  15. ^"HENSOLDT expands Asia-Pacific Business" (Press release). Hensoldt. 10 October 2019. Retrieved10 October 2019.
  16. ^Selinger, Marc (9 September 2019)."Hensoldt launches new South African unit". IHS Jane's. Retrieved9 September 2019.
  17. ^"HENSOLDT acquires radar company Kelvin Hughes" (Press release). Hensoldt. 30 June 2017. Retrieved16 November 2017.
  18. ^MacDonald, Andrew (29 September 2017)."Hensoldt completes Kelvin Hughes acquisition". IHS Jane's. Retrieved12 January 2018.
  19. ^"TRML-3D/32 - Mobile Air Surveillance and Defence Radar | HENSOLDT".
  20. ^"TRML-4D - Multi-Functional Air Surveillance and Target Acquisition Radar System | HENSOLDT".
  21. ^"Hensoldt presenting TRML- 4D multi-function air surveillance and target acquisition radar | Defense News May 2021 Global Security army industry | Defense Security global news industry army year 2021 | Archive News year". Archived fromthe original on 2022-05-26. Retrieved2022-05-17.
  22. ^"HENSOLDT presents new ground-based Air Defence Radar". 19 June 2018.
  23. ^https://www.hensoldt.net/stories/twinvis-passive-radar>
  24. ^"Twinvis Passive Radar for Ground Based Air Defence | HENSOLDT".
  25. ^Sprenger, Sebastian (2019-10-01)."Stealthy no more? A German radar vendor says it tracked the F-35 jet in 2018 — from a pony farm".C4ISRNET. Retrieved2019-11-07.
  26. ^Mizokami, Kyle (2019-09-30)."Can This New Radar System Track the Stealthy F-35?".Popular Mechanics. Retrieved2019-11-07.
  27. ^"TRS-3D - Naval 3D Multi-Mode Surveillance and Target Acquisition Radar | HENSOLDT".
  28. ^"TRS-4D Fixed Panel - Multi-function surveillance and target acquisition radar | HENSOLDT".
  29. ^"TRS-4D Rotator - Multi-function surveillance and target acquisition radar | HENSOLDT".
  30. ^Tomkins, Richard (26 February 2015)."ME country orders surveillance gear for its borders".www.upi.com. UPI. Retrieved12 January 2018.
  31. ^"Optronic Technologies and Products".www.naval-technology.com. Kable Intelligence Limited. Retrieved12 January 2018.
  32. ^"Hensoldt to supply optical units to Germany".www.shephardmedia.com. Shephard Media. 11 July 2017. Retrieved12 January 2018.
  33. ^"Airbus evaluates Sferion helicopter pilot assistance system".www.army-technology.com. Army Technology. 17 August 2015. Retrieved12 January 2018.
  34. ^"Airbus DS EBS delivers High-Performance Radar to the German Armed Forces" (Press release). Hensoldt. 24 October 2016. Retrieved16 November 2017.[permanent dead link]
  35. ^"Hensoldt to equip RCAF's military airfields with new radar systems".www.airforce-technology.com. Air Force Technology. 8 March 2017. Retrieved12 January 2018.
  36. ^"HENSOLDT develops jamming system to neutralise enemy air defences" (Press release). Hensoldt. 26 April 2022.
  37. ^Martin, Guy (9 November 2017)."Feature: Cyber and electronic warfare an increasing global challenge".www.defenceweb.co.za. Defence Web. Retrieved12 January 2018.
  38. ^"Multifunction Self Protection System (MUSS)".www.defense-update.com. Defense Update. 15 August 2006. Retrieved12 January 2018.
  39. ^""Puma" self-protection equipment on track" (Press release). Hensoldt. 11 July 2017. Retrieved16 November 2017.[permanent dead link]
  40. ^"Angela Merkel puts on hold arms sales to Saudi Arabia".Deutsche Welle. Retrieved22 October 2018.
  41. ^"Germany extends ban on arms sales to Saudi Arabia".Deutsche Welle. Retrieved28 March 2019.
  42. ^"Saudi Arabia: The Double Game of a European Arms Giant".Mediapart. 9 September 2022. Retrieved9 September 2022.

External links

[edit]
Authority control databases: NationalEdit this at Wikidata
Retrieved from "https://en.wikipedia.org/w/index.php?title=Hensoldt&oldid=1277918146"
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