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March 5, 2019 | International, Aerospace, Naval, C4ISR

UN GROUPEMENT INDUSTRIEL MENÉ PAR AIRBUS DÉCROCHE UN CONTRAT DE 150 MILLIONS AUPRÈS DE LA DGA

(AOF) - La Direction générale de l'armement (DGA) vient de confier à un groupement industriel mené par Airbus et composé de Naval Group et Rohde & Schwarz, le contrat RIFAN 2.1. Ce contrat a été signé pour une durée maximale de 8 ans et un montant maximum de 150 millions d'euros. Le contrat consiste à maintenir et adapter l'actuel Réseau IP de la Force Aéronavale étape 2 (RIFAN 2) aux besoins de la Marine nationale dans les années à venir, à y intégrer de nouveaux b'timents et à traiter les obsolescences des matériels et logiciels.

Il permettra ainsi d'intégrer dans le réseau RIFAN 2 les frégates de défense et d'intervention (FDI), futures frégates de premier rang de la Marine nationale, ainsi que les futurs pétroliers-ravitailleurs du programme BRF (b'timent ravitailleur de forces). Les adaptations du réseau porteront tant sur son architecture centrale que sur la mise à jour du système de surveillance et de détection des incidents de cyber-sécurité.

63 b'timents sont équipés du réseau RIFAN 2 : du porte-avions et frégates aux b'timents de soutien et patrouilleurs basés outre-mer, ainsi que des sous-marins. Le programme vise à doter la force navale française, d'un véritable réseau sécurisé à haut-débit. Il est conçu pour échanger entre les navires à la mer et les centres de commandement à terre, des données de différents niveaux de classification allant de " non protégé " jusqu'aux niveaux " secret ".

Le réseau permet de transmettre aussi bien les données issues des applications spécifiques à la conduite des opérations aéronavales que celles dédiées à la gestion quotidienne et logistique de la vie à bord, comme celles des systèmes d'information des états-majors de thé'tre embarqués pour la durée d'une opération.

RIFAN 2 comprend également une capacité de gestion globale du réseau et de surveillance des incidents de cyber-sécurité. Cette supervision s'exerce à la fois depuis un centre de gestion et de contrôle à terre, que localement à bord des navires, conférant ainsi une certaine autonomie aux équipages afin d'assurer le meilleur emploi du réseau en fonction de la situation opérationnelle.

AOF - EN SAVOIR PLUS

Les points forts de la valeur

- Numéro un européen et numéro deux mondial de l'industrie aéronautique, spatiale et de défense, né de la fusion en 2000 du français Aerospatiale Matra, de l'espagnol Casa et de l'allemand Dasa ;

- Activité de 67 Mds€ répartie entre l'aéronautique civile avec Airbus pour 75 %, défense & espace pour 16 % et Airbus Helicopters pour 9 % ;

- Excellente visibilité pour un secteur en croissance annuelle de 3 %, bénéficiant de fortes barrières à l'entrée et d'un bon « pricing power » ;

- Famille d'avions civils la plus complète du marché, de l'A380 et l'A350 (long-courrier) à l'A330 (15 heures de vol) et l'A320 (10 heures) et numéro un mondial des hélicoptères (47 % du marché civil en termes de livraisons) ;

- Carnet de commandes record de 997 Mds€, donnant une visibilité de près de 15 ans de chiffre d'affaires, provenant de l'Asie-Pacifique (29 %), d'Europe (22 %), d'Amérique du nord (20 %), du Proche-Orient (12 %) et d'Amérique latine (7 %) ;

- Acquisition sans sortie de cash de 50,01% de C-Series, programme de l'avionneur canadien Bombardier, qui renforce la position d'Airbus Group face à Boeing ;

- Trésorerie importante alimentée par les avances sur commandes et retour à un flux de trésorerie élevé, gr'ce à une bonne maîtrise des besoins en fonds de roulement ;

- Vers une hausse du taux de distribution aux actionnaires.

Les points faibles de la valeur

- Retards de livraisons pesant sur l'autofinancement ;

- Incertitudes judiciaires avec risques de pénalités entre 1 et 6 MdsE ;

- Ralentissement des cadences des programmes A380 et A400M ;

- Forte concurrence à venir dans le spatial de la part de Space X.

Comment suivre la valeur

- Performances étroitement liées à la santé des compagnies aériennes ;

- Sensibilité aux parités de change, 60 % des ventes étant facturées en dollars américains pour une base de coûts majoritairement en euros ;

- Poursuite du plan « Vision 2020 », initié en 2009 et visant à un équilibre entre l'aviation commerciale et les autres activités, à un doublement à 25 % de la part des services dans le chiffre d'affaires, à un renforcement à l'international avec 40 % des approvisionnements hors Europe ;

- Capacité à redresser le programme C-Series et, dans les usines européennes, à diminuer le nombre d'avions retenus au sol pour problèmes techniques ;

- Confirmation de l'accélération du rythme de livraison des A320neo ;

- Après l'autorisation des autorités européennes pour l'A330-900, attente de celle des autorités américaines ;

- Capital réparti depuis juin 2013 entre l'Etat français (11, % via la Sogepa), l'état allemand (11,1 % via GZbv) et l'état espagnol (4, % via SEPI), réunis par un pacte d'actionnaires.

Aéronautique - Défense

Le secteur aéronautique est soumis à une profonde mutation. A la recherche de relais de croissance et d'une amélioration de leur rentabilité, les acteurs ne se concentrent plus seulement sur leur cœur de métier (design et assemblage des avions) mais se tournent également vers les services. Ces derniers recouvrent aussi bien le service après-vente (maintenance et réparation des appareils) que la transformation d'avions de ligne en avions-cargos, ou la formation des équipages et des mécaniciens, l'aménagement des cabines et l'optimisation des appareils. Cette évolution amène les avionneurs à revoir complètement la conception de leur métier : ils ne livrent plus un produit mais un usage. Selon Boeing, le chiffre d'affaires des services à l'aviation commerciale pourrait ainsi dépasser celui des avions neufs pour atteindre 8.800 milliards de dollars d'ici à 2037.

https://www.capital.fr/entreprises-marches/un-groupement-industriel-mene-par-airbus-decroche-un-contrat-de-150-millions-aupres-de-la-dga-1330006

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