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Raytheon, Kongsberg to further develop NASAMS missile system, Norway says By Reuters

by Index Investing News
October 31, 2023
in Stocks
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© Reuters. The Raytheon stand is seen at the 53rd International Paris Air Show at Le Bourget Airport near Paris, France June 21, 2019. REUTERS/Pascal Rossignol

COPENHAGEN (Reuters) – The Norwegian defence ministry on Tuesday said it had agreed a new collaboration with U.S. based RTX unit Raytheon (NYSE:) and Norway’s Kongsberg Gruppen on further development of the NASAMS surface-to-air missile system.

“We need to strengthen and further expand air defence to better protect civilian and military targets against airborne threats,” Norwegian Defence Minister Bjorn Arild Gram said in a statement.

NASAMS is among the weapons systems donated by Western nations to Ukraine following Russia’s invasion.

“The war in Ukraine has demonstrated how crucial air defence is in war,” Gram said.

The new agreement is intended to ensure the NASAMS missile system keeps pace with evolving threats, the ministry added.

The Norwegian government plans to submit two air defence projects for parliamentary approval this autumn in its forthcoming 2023 state budget revisions, the ministry said.

The two projects will acquire missiles for NASAMS air defence, and re-acquire donated main components for NASAMS, respectively, according to the ministry.



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