Germany’s defense spending surged to $88.5 billion in 2024, ranking it fourth globally behind the US, China, and Russia. The increase represents a 28% jump from 2023 and brings Germany’s military expenditure to 1.9% of its GDP, nearing NATO’s 2% target. Key 2024 procurements include notable contracts for Patriot PAC-3 missile defense systems. The sharp rise reflects Germany’s intensified commitment to strengthening its military capabilities amid growing security challenges. Berlin’s expanded defense budget marks a historic shift in European military dynamics and NATO contributions.
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- 06/12/2024
- 0
European defense startup Helsing, valued at $4.5 billion, has shifted from a software-only focus to hardware with the launch of its HX-2 drone. Originally centered on AI software to enhance military capabilities, Helsing has pivoted to hardware manufacturing, challenging traditional defense giants like Raytheon and Lockheed Martin. The HX-2 drone, designed for swarm operations and targeting armored vehicles, marks a strategic shift for the company under CEO Torsten Reil. Manufactured in Germany, the HX-2 reflects Helsing’s broader goal to secure NATO’s eastern flank through partnerships with European arms manufacturers. With plans to produce tens of thousands of drones annually, Helsing […]
NATO Pilots Compare Eurofighter, F-35 In First Dogfight Competition
- Veiko Lukmann
- 14/10/2024
- 0
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Engine maker Renk opens shop in Italy ahead of armor spending frenzy
- Veiko Lukmann
- 24/10/2024
- 0
German propulsion company Renk is establishing a subsidiary in La Spezia, Italy, shortly after Rheinmetall and Leonardo announced plans to build tanks and infantry fighting vehicles for the Italian army in the same city. Renk sees La Spezia as a strategically important location, placing it closer to Italian customers and partners. The move positions Renk to potentially benefit from the Italian army’s massive €23 billion ($25 billion) vehicle order. The company, which generated €926 million in revenue in 2023, specializes in gear units, transmissions, power-packs, and hybrid propulsion systems. La Spezia is also home to Leonardo’s long-standing tank production operations. […]