NATO summit unveils major defense deals for RTX, Boeing and others
NATO summit in Washington saw a series of major deals for major US defense contractors and others. (Photo: PTI)
The NATO summit in Washington saw a series of major deals signed for major US defense contractors and others, including RTX, Lockheed Martin, Boeing, Norway’s Kongsberg Defense and Sweden’s SAAB.
Here are some of the arms purchases highlighted, many of which have been in development for months, if not years. Many predate the summit, with the exception of the Stinger contract, which was first publicly announced at the summit.
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A $680 million contract for 940 Stinger missiles, made by RTX’s Raytheon unit. Shoulder-fired Stingers are in high demand in Ukraine, where they have successfully stopped Russian air attacks. Neighboring countries in Europe have sought the weapon, fearing they will also have to push back Russian forces.
Patriot GEM-T missiles, made by COMLOG, a joint venture between RTX’s Raytheon and MBDA, worth $5.5 billion. NATO said in January that its procurement arm would support a group of member states including Germany, the Netherlands, Romania and Spain with a contract to buy up to 1,000 Patriot air defense missiles.
155mm artillery shell components, made by several companies including General Dynamics, worth $365 million, have been ordered. The most urgent need for Ukraine two years after Russia’s full-scale invasion is artillery ammunition, much of which has been supplied by the US and other NATO members.
A $1.2 billion NATO AWACS airborne radar expansion program being carried out by Boeing, Italy’s Leonardo, Spain’s Indra, Airbus, Thales, Jacobs and Kongsberg.
Norway’s Nammo and RTX’s Raytheon business unit have agreed to collaborate on the production of rocket engines, which have become a sought-after product for powering a wide range of missiles and projectiles in Ukraine and for future weapons across NATO.
The Ground Launched Small-Diameter Bomb (GLSDB), produced by SAAB and Boeing, has been successfully deployed in Ukraine.
Parts of interceptors for Lockheed Martin’s Patriot missile defense system are being produced by Poland’s Wojskowe ZakÅ‚ady Elektroniczne. The United States also announced this week a second $2 billion foreign military financing agreement with Poland as part of a major modernization program that includes the purchase of American defense equipment.
Kongsberg and RTX’s Raytheon business unit are working to enhance the National Advanced Surface-to-Air Missile System, also known as NASAMs. Originally announced in October 2023, NASAMs have become a key component of Ukraine’s missile defenses.
(Only the headline and image of this report may have been edited by Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
First print: Jul 12, 2024 | 07:49 AM IST