U.S. defence company Lockheed Martin (LMT.N), is hoping to sell its Thaad missile defence system to European customers, the company said in an interview with German paper Handelsblatt, as governments on the continent are hurriedly increasing military expenditure in response to threats posed by Russia.
In a Friday interview, Lockheed Martin International’s president, Michael Williamson, stated that the group is negotiating with prospective buyers for the system, which costs over 1 billion euros ($1.17 billion).
Thaad may be brought to Europe within the European Skyshield Initiative, a German-led air-defence programme, as a substitute for Israel’s Arrow 3 system for which Berlin has already signed up, the paper added.
DRONE PARTNERSHIPS REVOLUTIONIZE MILITARY PROCUREMENT
Defence spending in Europe has risen through the roof since Russia attacked Ukraine in 2022, with governments including Germany making plans for hundreds of billions of euros of investment.
Lockheed Martin sets sights on European market for Thaad missile defence
Recent reports of suspected Russian drones crossing into NATO airspace in Denmark and Poland have put pressure on reinforcing missile and drone defenses.
This has drawn in Northrop Grumman and Lockheed Martin to bid for the business in the region, Handelsblatt said. Williamson said in the paper that he has the largest growth opportunities in non-U.S. markets, including Europe, within the next five years.
Lockheed Martin’s alliance with Rheinmetall (RHMG.DE), is viewed as essential for winning contracts in the future in Germany. Williamson explained that the collaboration brings employment and access to political decision-makers, as reported by Handelsblatt.
Still, European governments still fear that America may overwhelm them, and just last week Denmark turned down the U.S. Patriot system for the SAMP/T made by Europe.
