Latest news with #BAESystemsPlc
Mint
23-05-2025
- Business
- Mint
Europe-Japan Fighter Jet Races Against China's Military Progress
A senior figure involved in the development of an advanced European-Japanese fighter jet justified the amount of resources earmarked for the project over the next decade based on the need to keep pace with China even as the military also faces the near-term risk of more Russian aggression in Europe. 'The immediate threat can be managed with current weapons systems. The evolution of the threat also has to be managed,' Brig. Gen. Edoardo de Santo, Senior Commanding Engineer at Leonardo SpA., said in an interview. Leonardo is the main Italian partner in the Global Combat Air Program, a project with the UK and Japan formalized last year to develop a sixth-generation stealth fighter aircraft with a goal of having it enter service in 2035. The countries are aiming for the GC fighter to exceed the capabilities of current fifth-generation fighters such as the F-35 in areas such as target location and avoiding detection. Plans call for the fighter to serve as a flying control center for drones and other military assets in addition to operating its own weapons systems. The design of the aircraft isn't scheduled to be confirmed until next year as the nations involved rethink the role of the stealth fighter to try and retain an edge over rivals such as China. A rare indication of the progress of China's military technology came recently when Pakistan said it used Chinese-made fighter jets to shoot down French-made Indian fighters during the recent escalation in military tensions. While the claim hasn't been confirmed, it heightened speculation that China's focus on modernizing its military is making significant progress. Speaking on Thursday at the Defense and Security Equipment International conference being held just outside Tokyo, de Santo said the decade-long timeline for the GC project was very short given its complexity. He also denied that funds could be better spent to deal with more immediate threats. Overall spending figures for GC haven't been released, but the UK has so far earmarked £14 billion for the program. 'Jumping to the sixth generation will not be easy because a lot of things will be new, such as the aircraft sensors and communications,' de Santo said, adding that technologies developed for the aircraft will have military and non-military applications outside the GC project. 'This is how we will deal with the future threat,' he said. Potential financial support for the GC program may come from Saudi Arabia, which is discussing joining the project. De Santo also said that the partner countries remain open to others joining if they can bring specific contributions and make it more efficient. The partner countries also aim to export the aircraft, with Australia and India possible destinations, according to Japanese media reports. Leonardo, BAE Systems Plc of the UK and Japan Aircraft Industrial Enhancement Co. each own a 33.3% stake in a new company headquartered in the UK that will develop and manufacture jets under the GC program. The new aircraft are intended to replace the Eurofighter Typhoon jets in the Royal Air Force's fleet and Japan's fleet of F-2 fighters. This article was generated from an automated news agency feed without modifications to text.
Yahoo
01-04-2025
- Automotive
- Yahoo
Military Vehicle Market Size Worth $65.53 Billion, Globally, by 2031 - Exclusive Report by The Insight Partners
Military Vehicle Market share research includes key company profiles like ASHOK LEYLAND; BAE Systems Plc; General Dynamics Corporation; NORINCO Group; Oshkosh Defense, LLC; Patria; Rheinmetall AG; Soframe; Tata Motors; Thales Group; Lockheed Martin Corporation; and KNDS France US & Canada, April 01, 2025 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, 'the global Military Vehicle Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Tanks, Military Trucks, Amphibious Military Vehicles, Armored Vehicles, Reconnaissance Vehicles, Special Purpose Vehicles, and Others), Application (Ground Support Vehicles, Tactical Warfare, ISR, Military Transportation, and Others), Technology (Autonomous Vehicles and Manually Driven Vehicles), and Geography'.The report carries out an in-depth analysis of market trends, key players, and future opportunities. The market, in terms of application, is categorized into ground support handling, tactical warfare, ISR, military transportation, and others. Increasing several countries' government demand to procure modern military vehicles across the globe is major driving factor for the military vehicles market during the forecast period. For instance, in January 2025, the Ministry of Defence signed a contract with Heavy Vehicles Factory, a unit of Armoured Vehicle Nigam Limited, for the procurement of 47 Tank-72 Bridge Laying Tanks (BLT) for the Indian Army at a total cost of ~US$ 180 million. Market Overview and Growth Trajectory: Military Vehicle Market Growth: Rising Defense Expenditure: The changing modern warfare scenario has compelled governments of various countries across the globe to allocate substantial funds and financial aid toward respective defense and military forces. The defense budget allocation supports the army and military forces to acquire enhanced technologies and equipment from native or international developers. Alternatively, military and army vehicle modernization is on the rise due to the growing defense budget allocation. Furthermore, the growing governmental expenditure shows the government's attention on improving national security forces. There is an augmented need to reinforce military and border security forces with cutting-edge surveillance, communication, artillery, navigation equipment, armaments, and vehicles, among others; hence, military forces across the globe are focusing on investing significant amounts in procuring advanced technologies. Defense forces' constant inclination to acquire new technologies for noncombat and combat operations further boosts military expenditure across the globe. The unstable geopolitical scenario worldwide involving India-Pakistan, China-Taiwan, China-India, Russia-Ukraine war, Russia-US, and the Israel-Palestine war is boosting the demand for advanced military vehicles equipped with high-end surveillance, communication, and navigation systems. The uncertain geopolitical occurrences, such as wars between nations, are jeopardizing common life and increasing the national security threat and uncertainties, which is the major reason for the growing focus on strengthening the security forces to combat such unwanted situations. Instances such as Brexit, European elections and the threat of exit from the Eurozone, US Presidential elections, the US and China trade war, Hong Kong protests, and China and Taiwan hostilities are also boosting the demand for strong military and defense sector, thereby driving the requirement for advanced military vehicles. Geographical Insights: In 2023, North America led the market with a substantial revenue share, followed by Europe and Asia Pacific. North America is expected to register the highest CAGR during the forecast period. Military Vehicle Market Segmentation, Applications, Geographical Insights: Based on type, the military vehicle market is segmented into tanks, military trucks, amphibious military vehicles, armored vehicles, reconnaissance vehicles, special purpose vehicles, and others. The demand for armored vehicles has been experiencing significant growth, driven by the rising global security concerns, geopolitical hostilities, and the demand for enhanced defense capabilities. In 2024, BAE Systems received a US$ 184 million contract modification to produce an additional 48 Armored Multi-Purpose Vehicles (AMPV) for the US Army. In 2024, Patria and the Latvian Ministry of Defence agreed on the production and delivery of an additional 56 Patria 6x6 armored vehicles to serve as command and control (C2) units. Based on application, the military vehicle market, is categorized into ground support handling, tactical warfare, ISR, military transportation, and others. The military transportation segment is distinguished from other segments by its focus on payload capacity, range, and versatility, with vehicles designed to operate in a wide range of terrain and environmental conditions. These vehicles may include trucks, trailers, and specialized transport platforms, each with unique features and capabilities to meet the specific requirements of military logistics. Factors driving the market growth of the military transportation segment include the increasing need to modernize aging fleets, evolving military operational requirements, and the continuous demand for efficient logistics in complex combat scenarios. Based on technology, the Military Vehicle market is divided into autonomous vehicles and manually driven vehicles. The manually driven vehicles segment accounted for a significant market share in 2024, owing to the rising military expenditure for the purchase of new military vehicles. Key Players and Competitive Landscape: The Military Vehicle Market is characterized by the presence of several major players, including: ASHOK LEYLAND BAE Systems Plc General Dynamics Corporation NORINCO Group Oshkosh Defense, LLC Patria Rheinmetall AG Soframe; Tata Motors Lockheed Martin Corporation KNDS France These companies are adopting strategies such as new product launches, joint ventures, and geographical expansion to maintain their competitive edge in the market. Military Vehicle Market Recent Developments and Innovations: " BAE Systems signed individual contracts worth approximately US$ 2.5 billion with Sweden and Denmark for new CV90 combat vehicles.' 'The Bundeswehr has commissioned Rheinmetall to supply 568 logistics vehicles. These will include 349 UTF trucks (unprotected transport vehicles) in 5t and 15t models, as well as 219 trucks with a swap-body system, 121 of which will have a protected driver's cab.' 'Leonardo and Rheinmetall established a joint venture to form a new European nucleus for the development and production of military combat vehicles.' 'BAE Systems has been awarded $68 million in contracts to produce an additional 44 Cold Weather All-Terrain Vehicles (CATV) for the U.S. Army.' Conclusion: Manufacturers operating in the military vehicle market strongly emphasized collaborating with different governments and armed forces to comprehend their respective demands and offer suitable solutions. The military forces of various countries are granting numerous contracts to military vehicle manufacturers to procure advanced military vehicles equipped with high-end communication, surveillance, and navigation systems. Moreover, the defense forces of different nations are investing substantially in obtaining military vehicles such as tanks, military trucks, amphibious military vehicles, armored vehicles, reconnaissance, and special-purpose vehicles. Military vehicles are essential to comprehensive logistics, combat, transporting, communication, surveillance, and navigation purposes. They enable armed forces to facilitate enhanced major military operations. The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system technology integrators, system manufacturers, and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new Report Titles: Military Vehicle Electrification Market Competitive Landscape, Size, Segments, and Growth by 2031 Military Vehicle Intercom System Market Key Companies Profile and SWOT Analysis by 2031 Military Vehicles and Aircraft Simulations Market Outlook, Dynamics and Strategic Insights by 2031 Military Vehicle & Aircraft Protection Systems Market Analysis, Size, and Share by 2025About Us: The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials. Contact Us: If you have any queries about this report or if you would like further information, please contact us: Contact Person: Ankit MathurE-mail: Phone: +1-646-491-9876Press Release: in to access your portfolio
Bloomberg
26-03-2025
- Business
- Bloomberg
BAE Ready to Lift Capex Beyond £1 Billion to Meet Defense Boom
By and Kate Duffy Save BAE Systems Plc is ready to step up capital investment beyond the current £1 billion ($1.3 billion) annual level, as the UK's biggest military contractor prepares for a 'super-cycle' in European defense spending, according to Chief Financial Officer Bradley Greve. 'We're spending at record levels already,' Greve said in an interview with Bloomberg Television's Tom Mackenzie. 'We need to see the government spending plans, and they are plans right now, convert to actual orders. Once those orders come in we are ready to build a capacity to deliver those.'
Bloomberg
17-03-2025
- Business
- Bloomberg
Germany's Defense Splurge Set to Favor European Companies
European weapons manufacturers from Thyssenkrupp AG to BAE Systems Plc and smaller drone makers stand to gain the most from Germany's massive defense-spending splurge, according people familiar with the matter, after comments by President Donald Trump raised doubts about the US's commitment to transatlantic cooperation. At the top of Berlin's shopping list are six F127 battleships from Germany's ThyssenKrupp Marine Systems valued at more than €15 billion ($16.4 billion), and 20 added Eurofighter jets from BAE and its partners worth some €3 billion, said the people, who spoke on condition of anonymity as the procurement plans aren't public.
Bloomberg
17-03-2025
- Business
- Bloomberg
Europe's Biggest Missile Maker MDBA Goes on a Spending Splurge
Europe's biggest missile maker plans to spend as much as €2.5 billion ($2.7 billion) in the next five years to lift production and will go on a hiring spree as the region refocuses on supporting local arms providers amid increasingly fraught trans-Atlantic relations. MBDA Missile Systems, a venture between France's Airbus SE, BAE Systems Plc from the UK and Leonardo SpA of Italy, plans to bolster its workforce to 19,000 in 2025 by adding 2,600 employees, Chief Executive Office Eric Beranger said at a press conference in Paris on Monday. The company boasts an order backlog of €37 billion after the intake reached an all-time high of €13.4 billion last year, he said.
