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South Korea, U.S. Finalize New Defense Cost-sharing Agreement for 2026-2030

October 4, 2024 @ 11:19 AM

Seoul and Washington have finalized a new defense cost-sharing agreement that will cover the period from 2026 to 2030, the South Korean Foreign Ministry announced on Friday. The agreement, reached after five months of negotiations, will determine how the two allies share the financial burden of maintaining U

Denmark Signs Agreement with Kyiv to Finance $629 Million Weapons Production in

September 29, 2024 @ 11:00 AM

Danish Defense Minister Troels Lund Poulsen together with Ukrainian Defense Minister Rustem Umerov and Minister for Strategic Industries Herman Smetanin signed a letter of intent in Kyiv today to proceed with cooperation on specific acquisitions by Ukrainian defense companies for a total of around DKK 4.2 billion ($629 million)

South Korea, Australia Sign MOU to Boost Defense and Space Cooperation

September 23, 2024 @ 06:40 AM

The Defense Acquisition Program Administration (DAPA) of South Korea recently signed a Memorandum of Understanding (MOU) with the Australian Strategic Policy Institute (ASPI) to enhance cooperation in the defense and space sectors. The South Korean arms procurement agency

Denmark May Invest in Ukrainian Drone Factories with Income from Frozen Russian...

September 16, 2024 @ 09:13 AM

Denmark may be considering investing income from frozen Russian assets in Ukrainian companies that manufacture drones and other military hardware. Danish Defense Minister Troels Lund Poulsen was in Ukraine on September 13-14 to visit companies that produce long-range drones for Ukraine's defense, a Danish MoD release said

Indian MoD Approved $17 Billion Worth Defense Procurement Projects

September 3, 2024 @ 04:55 PM

Indias Defence Acquisition Council (DAC), approved 10 capital acquisition proposals amounting to Rs 1,44,7160 crore ($ 17 Billion). Of the total approvals, 99% is from indigenous sources under Buy (Indian) and Buy (lndian-Indigenously Designed Developed and Manufactured) categories, an official release said

U.S., India Sign Security of Supply Arrangement to Strengthen Defense Partnership

August 23, 2024 @ 05:38 AM

The Department of Defense (DoD) of the United States and the Ministry of Defence of the Government of India (IN MoD) have entered into a bilateral Security of Supply Arrangement (SOSA), marking a significant step in the defense cooperation between the two nations. The agreement, which is non-binding, was signed by Dr

Anduril Industries Secures $1.5B for Defense Manufacturing Expansion

August 8, 2024 @ 06:12 AM

Anduril Industries has announced securing $1.5 billion in funding for its Series F round to scale up defense manufacturing

China's AVIC is World's Number 2 Defense Firm in Revenue

August 7, 2024 @ 10:54 AM

The Aviation Industry Corporation of China (AVIC) has secured the second spot in the "Defense News Top 100 for 2024" list, surpassing other global defense firms. The annual rankings, published by U

Russia Increases Artillery Guns, Ammunition Production tenfold in 2023 over 2022

July 31, 2024 @ 07:08 AM

Russian arms manufacturers have increased the production of artillery guns and their ammunition by upto ten times in 2023 over 2022, marking the biggest increase since the start of the Ukraine war. Rostec CEO Sergey Chemezov presented the company's 2023 performance to Russian President Vladimir Putin

Germany to Buy Light Attack Helos, F127 Frigate, Short-range Air Defense Systems

July 25, 2024 @ 07:49 AM

The German Defense Ministry has announced plans to acquire a light attack helicopter, an F127 frigate, and an air defense system for short- and very short-range threats. The details were outlined in the

Romania to Buy F-35A Jets for Over $6B in 2024: Report

July 18, 2024 @ 08:45 AM

Romania is planning to allocate $6.5 billion for the acquisition of two squadrons of F-35A fighters this year, as part of a $13 billion military modernization effort

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