Official government budget announcements or reports from the joint venture partners

UK, Italy, Japan Launch Equal Share Joint Venture for Stealth Fighter Jet

Dec 13, 2024, 02:12 PM

The UK, Italy, and Japan have formalized a joint venture to develop a next-generation fighter jet, with each nation's major defense contractors holding an equal share. The agreement, announced on December 13, 2024, involves Britain's BAE Systems, Italy's Leonardo, and Japan Aircraft Industrial Enhancement Co. Ltd. (JAIEC), which is jointly funded by Mitsubishi Heavy Industries (MHI) and the Society of Japanese Aerospace Companies. The new company, to be established by mid-2025, will be headquartered in the UK, with its first CEO coming from Italy. This venture aims to create a sixth-generation stealth fighter under the Global Combat Air Programme (GCAP), established in 2022 to replace the Eurofighter Typhoon and Japan's F-2. The aircraft is expected to enter service by 2035 and remain operational until 2070. The initiative is seen as a significant step in international aerospace and defense collaboration, fostering long-term, high-value jobs across the partner nations. BAE Systems CEO Charles Woodburn, Leonardo CEO Roberto Cingolani, and JAIEC president Kimito Nakae have all expressed their commitment to this strategically important program. The Italian defense ministry has allocated 8.8 billion euros to the program, and there is interest from Saudi Arabia in joining the venture.