Money

EU’s Defense Sector Gets Money


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Americas

Bell Boeing won a $23.3 million modification, which exercises an option to provide continued flight test support for the V-22 Osprey aircraft for the Navy, Marine Corps, Air Force, and the government of Japan. Work will take place in Maryland, Pennsylvania, Texas and Florida. Expected completion date is in January 2025.

Boeing won a $14.4 million modification, which provides non-recurring engineering in support of configuration clarifications for the Harpoon Coastal Defense System (HCDS), to include the Harpoon Block II Update Grade B Canister Launch All Up Round Missiles; the HCDS launch system, and Harpoon weapon station test and production equipment for the government of Taiwan. Work will take place in California, Missouri, New York and China. Expected completion date is January 2025.

Middle East & Africa

The newly configured Spyder air defense system has intercepted a drone during a test with the Israeli military, the weapon’s manufacturer announced Wednesday. The announcement comes amid the Israel-Hamas war and tension along Israel’s northern border with Lebanon, where the militant group Hezbollah is based. Hezbollah in recent months has fired Katyusha missiles and drones at Israel.

Europe

Rheinmetall tested its mobile Skyranger 30 air defense system recently, paving the way for its system qualification in mid-2024. It included live firing by the vehicle’s A1 configuration in static and mobile modes. The A1 is a development test bed whose “flexible design enables efficient testing and optimization of multiple customer variants with different radars and effectors,” Rheinmetall explained.

The European Commission and the European Investment Fund (EIF) have joined forces to step up their support to EU’s defense and security through the launch of the Defense Equity Facility. The initiative, consisting of €100 million from the European Defense Fund and an additional €75 million from the European Investment Fund, will significantly expand EIF’s investment capacity to support, in the next four years, private equity and venture capital funds with strategies covering technologies relevant to defence.

Asia-Pacific

Russia will begin producing a cluster ‘glide’ bomb in 2024. The first batch of Drel bombs will be produced this year, state-owned TASS reported, citing Russian state defense conglomerate Rostec. “To date, the product has passed all types of tests specified by the customer,” the Russian  state-owned outlet quoted Rostec as saying, adding that warheads are being developed.

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