Exosens has accelerated production of image intensifier tubes at its European facilities, commissioning additional equipment and extending operating schedules as demand for specialist night-vision components exceeds available capacity.
The French imaging and detection technology group says the first phase of its European manufacturing expansion is in operation and ramping up faster than planned. Its programme targets a 40% increase in image intensifier tube manufacturing capacity across Europe and the United States by 2027.
That 40% figure is a target for the combined production footprint, not a capacity increase already completed in Europe. The company’s October results show that the initial European improvements have supported higher sales volumes and manufacturing yields, while further investment remains under way.
Group revenue for the first nine months of 2026 reached €386.9 million, up 18% year on year. Third-quarter revenue growth accelerated to 23.5%, including 20.5% growth on a like-for-like basis.
Exosens’ Amplification division, which produces image intensifier tubes, recorded revenue of €267.8 million for the nine-month period, an increase of 15.5%. Third-quarter growth in that division reached 23.9%, partly supported by additional production capacity.
The company introduced an extended production schedule that kept its European facilities operating throughout August for the first time, while newly installed manufacturing equipment was commissioned. The change allows more production time, although the number of saleable devices still depends on material availability, equipment performance and successful quality testing.
Image intensifier tubes are electro-optical components used in night-vision equipment. They convert low levels of incoming light into an electron signal, amplify that signal and transform it into a visible image suitable for observation.
A typical device incorporates a photosensitive surface, electron amplification structures and an output screen. Its performance depends on the interaction of these elements rather than the functioning of any one component in isolation.
Manufacturing control influences sensitivity, resolution, signal uniformity and noise. A tube must meet relevant electro-optical specifications before it can be incorporated into the intended equipment, so greater machine availability does not automatically produce a proportional increase in accepted output.
Exosens says manufacturing yields have improved alongside the increase in production volume. This helps distinguish the capacity programme from an increase in factory operating hours alone, although the company has not disclosed the absolute number of additional tubes produced.
New machinery requires qualification, stable processing conditions and trained operators before it can deliver repeatable results. Where production involves specialised materials and precision assemblies, even minor variations can affect the proportion of devices meeting the required performance specification.
The company is also establishing additional capacity in the United States. Its US subsidiary, Photonis Defense, received an initial order in August for 1,600 complete binocular night observation systems under the US Army’s BiNOD programme.
The delivery order forms part of a wider indefinite-delivery, indefinite-quantity contract with a stated ceiling of US$352.6 million. That ceiling should not be treated as the value of the initial 1,600 systems or revenue already received.
Photonis Defense expects initial deliveries before the end of 2026, with most scheduled for 2027. The US programme involves manufacturing and testing complete systems as well as integration of the group’s image intensifier technology.
Exosens’ Detection and Imaging business is undergoing a separate production expansion. The group is targeting a tripling of thermal camera manufacturing capacity and a doubling of cooled infrared camera capacity during 2026.
Those targets concern different product families and must not be combined with the 40% image intensifier objective. Thermal imaging uses detectors responsive to infrared radiation, while cooled infrared cameras operate sensor assemblies at reduced temperatures to achieve the performance needed in demanding applications.
The related production processes can require different detector assemblies, optics, electronics and testing equipment. Increasing capacity therefore involves separate engineering work for each camera technology rather than a single common manufacturing line.
Detection and Imaging revenue reached €120 million in the first nine months, up 23.7%, including 14.1% like-for-like growth. The result includes contributions from acquired businesses, meaning the headline change is not entirely attributable to increased output from existing factories.
Demand includes surveillance, drone and counter-drone systems, where sensor selection depends on range, viewing conditions and equipment constraints. The group’s industrial applications include process inspection and sensing technologies used in semiconductor manufacturing.
Exosens also supplies specialist nuclear instrumentation. During 2026 it provided neutron flux monitoring equipment and expertise to Antares Nuclear and Valar Atomics, which are involved in the US Department of Energy’s reactor pilot programme.
Nuclear detectors perform different functions from the company’s night-vision tubes, and these contracts should not be represented as additional image intensifier orders. They illustrate the range of specialist manufacturing capabilities within the wider group.
Exosens completed its acquisition of Emberion in April, adding short-wave infrared sensor technology developed by operations in Finland and the UK. That investment is distinct from the capacity increases reported for its existing imaging product lines.
The group has confirmed its upgraded full-year revenue outlook of €558 million to €570 million and adjusted EBITDA guidance of €186 million to €192 million. Capital expenditure is expected to represent approximately 9% of revenue, excluding capitalised research and development.
The October update confirms operating progress against an expansion programme that was also discussed in September. Further increases in output will depend on equipment ramp-up, manufacturing yields and the ability to qualify complete products for customers.
Full-year 2026 results are scheduled for 22 February 2027, when Exosens expects to provide guidance for 2027. The capacity targets for image intensifiers and infrared camera products remain forward-looking until their manufacturing performance has been demonstrated.
