The news report caused the stock to surge.
According to Reuters, the decision will be announced at the Nato summit in Ankara, Turkey, on July 7-8. Both Nato and Saab have declined to comment to Reuters.
Today, Nato has 14 Awacs planes that have been used since 1982. They are based at Geilenkirchen Air Base in Germany and have been widely used for Nato's various surveillance missions over the years.
Global Eye competes with the American Boeing E-7 Wedgetail, which is based on the 737 passenger plane.
Last year, Nato abandoned earlier plans to buy six Wedgetails after its largest customer – the US Defence Department – scrapped plans to buy 26 such planes in favour of relying more on satellites.
However, under pressure from Congress, Defence Secretary Pete Hegseth told a congressional committee in May that the Pentagon was pushing to reinstate the aircraft in the budget.
During a press conference today, June 3rd, ahead of next week's Nato summit, Swedish Prime Minister Ulf Kristersson highlighted recent export successes for the Swedish defence industry and said that further deals may be imminent.
Kristersson mentioned that negotiations are underway with Canada about the sale of six Global Eye reconnaissance planes from Saab and said "more may come in the near future."
Saab's Gripen fighter aircraft is also included as one of the possible options in another possible deal with Canada, which wants to replace its older American aircraft.
At next week's Nato summit in Ankara, increased capacity for the Nato countries' defence industry is on the agenda, along with other topics.
The Swedish Armed Forces also use Global Eye, of which one of the three aircraft ordered has already been delivered to the Air Force.
Global Eye is based on the Canadian aircraft manufacturer Bombardier's Global 6,500 model.