News in Numbers
€27m
European naval prime Fincantieri has reported a net profit of €27m ($29.23m) for the financial year 2024, marking a turnaround from a €53m net loss in the previous year.
£400m
The UK Ministry of Defence has created a £400m ($511.4m) innovation fund to harness technologies developed by small and medium enterprises seeking entry into the defence sector.
$5.58bn
The US State Department has approved a potential Foreign Military Sale (FMS) to the Philippines, which includes a range of F-16 fighter jets and associated equipment, valued at around $5.58bn.
11
In retaliation for US trade sanctions, China has blacklisted 11 US defence companies from trading and investing within the country, including drone manufacturers Insitu and Kratos.
2%
New Zealand’s new Defence Capability Plan will incrementally elevate the country’s defence budget from slightly over 1% of GDP to upwards of 2% within an eight-year timeframe.
