WASHINGTON (Reuters) - The NATO summit in Washington showcased a series of significant deals for top U.S. defense companies and others, including RTX, Lockheed Martin (NYSE:LMT), Boeing (NYSE:BA), Norway's Kongsberg Defense and Sweden's SAAB.
Here are some of the weapons procurements that were highlighted, many of which have been in development for months, if not years. Many date to before the summit, with the exception of the Stinger contract which was first publicly announced at the summit.
HIGHLIGHTED DEALS
• A $680 million contract for 940 Stinger missiles made by the Raytheon (NYSE:RTN) unit of RTX. Shoulder-fired Stingers have been in hot demand in Ukraine, where they have successfully stopped Russian assaults from the air. Neighboring European countries have sought the weapon, fearing they may also need to beat back Russian forces.
• Patriot GEM-T missiles, made by COMLOG, a joint venture between RTX's Raytheon and MBDA valued at $5.5 billion. NATO in January said its procurement arm would support a group of member countries, including Germany, the Netherlands, Romania and Spain, with a contract to buy up to 1,000 Patriot air defense missiles.
• 155 mm artillery shell components, made by various companies including General Dynamics (NYSE:GD), valued at $365 million, have been ordered. The most pressing need for Ukraine two years after Russia's full-scale invasion is artillery ammunition, much of which has been supplied by the U.S. and other NATO members.
• An extension program for NATO's AWACS airborne radar for $1.2 billion that is being built by Boeing, Italy's Leonardo, Spain's Indra, Airbus, Thales, Jacobs, and Kongsberg.
HIGHLIGHTED CO-PRODUCTION AGREEMENTS
• Norway's Nammo and RTX's Raytheon business unit agreed to partner to build rocket motors. These engines have become a hot commodity to propel a wide range of rockets and missiles in Ukraine and for future weaponry across NATO.
• The Ground Launched Small-Diameter Bomb (GLSDB) produced by SAAB and Boeing has been used successfully in Ukraine.
• Portions of interceptors for Lockheed Martin's Patriot missile defense system will be produced by Poland's Wojskowe Zakłady Elektroniczne. The United States this week also announced a second $2 billion foreign military financing direct loan deal with Poland as part of a major modernization program that will include buying U.S. defense equipment.
• Kongsberg and RTX's Raytheon business unit are working to improve the National Advanced Surface-to-Air Missile System, also called NASAMs. Originally announced in October 2023, NASAMs have become an important part of missile defense in Ukraine.