(Finance) – BAE Systems, Leonardo And Japan Aircraft Industrial reached an agreement in London for the establishment of an equal business joint venture for the development of the Global Combat Air Programme.
The agreement is based on a trilateral collaboration already launched in the GCAP context since December 2022 between the governments and defense industries of Italy, the United Kingdom and Japan. The new joint venture will be responsible for the design, development and delivery of the next-generation fighter and will maintain the role of GCAP design authority for the entire life cycle of the aircraft itself, even beyond 2070.
BAE Systems, Leonardo and JAIEC will each hold a 33.3% equity stake in the new joint venture: bringing together the combined strengths and expertise of three leading companies and marking a pivotal moment for the international aerospace and defense industry.
Its management will be based in the UK, to ensure the highest degree of alignment and collaboration with the GCAP International Government Organization (GIGO), also headquartered in the UK.
“Today we are charting the course towards a new era in the field of aeronautical systems and multi-domain scenarios, promoting long-term sustainable growth for the economies of the countries involved”, he said Roberto Cingolani, CEO and general manager by Leonardo. The agreement – he added – is the result “of an intense path made possible by sharing our mutual experiences. In addition to improving our technological capabilities, this partnership also strengthens our commitment to global security and innovation”.
“The new company will combine considerable strengths and the excellent skills of the companies involved – highlighted the CEO of BAE Systems, Charles Woodburn – to create an innovative organization that will lead the development of a next-generation air combat system, creating long-term, high-value, skilled jobs for decades to come in all partner countries. Today’s agreement represents the culmination of months of collaboration with our industrial partners and is a testament to the great commitment of all those who took part in this strategically important programme.”
“As we embark on this exciting and important journey to the success of the GCAP program, I recognize that the path may not always be linear and simple,” he said Kimito Nakae, President of JAIEC. “However – he added – I believe that by persevering in the spirit of solid cooperation and trilateral collaboration that we have developed so far, in addition to completing the GCAP program on schedule, we will take it to a level beyond all our expectations.”