Sweden To Buy Gripen Jets Worth $2.5 Billion

Saab has won a contract worth $2.5 billion from the Swedish Defence Materiel Administration (FMV) for Gripen E production.

The order includes modification of 60 Gripen C to Gripen E for Sweden with initial deliveries in 2018.

“The order from FMV is further proof of the Swedish Parliament’s confidence in Gripen, its development potential and defence capacity. Furthermore, it is confirmation that the programme is proceeding according to plan," says Saab’s president and CEO Håkan Buskhe.

The order also includes development of Gripen E to Sweden during 2013-2023 – orders received on 15 February and on 22 March 2013 and delivery of 22 new Gripen E, and related equipment to Switzerland, if Switzerland decides to acquire Gripen E.

During August and September 2013 both chambers of the Swiss Parliament voted yes to the procurement of Gripen E and a referendum on the procurement is expected in 2014.

Orders under the agreement are booked when each order is received and the remaining orders are expected in 2014.

“We continue to build on the success of Gripen. Gripen is unique in its ability to combine high technology and performance with cost efficiency and we note a strong interest for Gripen on the export market,” says Lennart Sindahl, Deputy CEO and head of Saab's business area Aeronautics.

Gripen E has significant performance improvements compared to previous versions, including a stronger engine, longer range, more weapons, new electronic radar and more advanced avionics.