NATO Summit Spurs $680M Stinger Missile Deal and More

The NATO summit in Washington resulted in several notable deals with top U.S. defense firms and international companies. Major procurements include a $680 million contract for Stinger missiles, a $5.5 billion deal for Patriot GEM-T missiles, and a $1.2 billion extension for NATO's AWACS radar system. Co-production agreements were also highlighted.

In a groundbreaking NATO summit held in Washington, key agreements were forged involving leading U.S. defense companies and international counterparts such as RTX, Lockheed Martin, Boeing, Norway's Kongsberg Defense, and Sweden's SAAB. These deals, rooted in long-standing negotiations, mark significant advancements in global defense preparedness and technology.

One of the pinnacle agreements is a $680 million contract for 940 Stinger missiles, produced by RTX's Raytheon unit. These shoulder-fired missiles have been crucial in Ukraine's defense against Russian aerial attacks and are now in high demand among neighboring European nations.

Another highlight is the $5.5 billion contract for Patriot GEM-T missiles, created through a joint venture between RTX's Raytheon and MBDA. This procurement benefits multiple NATO members, including Germany, the Netherlands, Romania, and Spain. Additional significant deals include a $365 million order for 155 mm artillery shell components and a $1.2 billion extension for NATO's AWACS airborne radar systems.

The summit also featured prominent co-production agreements. Notably, Norway's Nammo and RTX's Raytheon will jointly construct rocket motors, while SAAB and Boeing's Ground Launched Small-Diameter Bombs have proven their efficacy in Ukraine. Further, portions of Lockheed Martin's Patriot missile interceptors will be produced by Poland's Wojskowe Zakłady Elektroniczne, marking a significant step in the U.S.-Poland defense partnership.

(With inputs from agencies.)