THEON signs with OCCAR the largest contract in its history for the supply of 100,000 night vision systems

The Contract Amendment, including an option for services worth approximately €100 million, has a total value of approximately €1 billion and constitutes the largest single procurement of night vision goggles in the history of a NATO member state in Europe.

The Contract builds on previous orders through OCCAR for 66,000 night vision systems (NVGs) for the German Armed Forces and 8,000 for the Belgian Armed Forces, the majority of which have already been delivered.

With this latest order, the total number of systems under this contract, including options, amounts to approximately 200,000. THEON remains the largest supplier of night vision systems in Europe, now ensuring significant backlog predictability for the next four years until 2029.

Following the original contract and the amendments made, this contract provides for deliveries of the Mikron night vision system, which operates with 16 mm light intensifier tubes from Exosens. THEON has secured more than 400,000 Image Intensifier Tubes (IIT) through the latest extension of the Long-Term Commercial Agreement (LTCA) with Exosens, announced on December 3, 2025, of which 230,000 are intended to cover new orders in the 4th quarter. The Commercial Agreement more than covers THEON’s needs for existing orders, with sufficient margin to cover additional new orders.

In line with its strategy of continuous order fulfillment through local production, which was also followed in previous assignments, part of the assembly will take place in Germany, at the Hensoldt Theon NightVision (HTN) facility in Wetzlar, Hesse. To fulfill its obligations under the contract, HTN will move to new, significantly larger facilities in Q2 2026, while its workforce is expected to triple by the end of next year.

Following this order, THEON's orders for 2025 amount to €1.3 billion, while including the new options, they amount to approximately €2 billion. The total unexecuted balance, with additional options of approximately €865 million, amounts to almost €2.4 billion. As a rule, options included in contracts and framework agreements are fully exercised and converted into binding orders.