How does Thales Group look for European security?

Thales Group is a French defense, space and cyber security contractor. It is majority owned by the French state and Dassault family. They are diversified and a leader in advanced electronics. Orders have declined from America/Oceania but grown a solid 15% from European allies and the rest of the world 8%. This is an investment in European security first and foremost but it is globally relevant. Some recent developments: 1. First SAMP/T air defense system export to Denmark. Hope to see more of that with the European sky shield initiative. 2. Contract for the EU starlink alternative, IRIS2. 3. Launch of first European quantum resistant smart card. They use ML-DSA signatures which has been a EU priority. Another example of a possible growth avenue are more orders for Eurofighters to replace F35s. They supply electronics for these like the PIRATE, a infrared search and track system. They also produce submarines through their stake in the naval group. Most attention has been on land with Ukraine but the cold war under the oceans is heating up, particularly in the arctic. It's currently trading at a trailing P/E of 50 and forward P/E of 20. What do you think of them?