Saab Secures $159 Million Deal for Germany's Missile Modernisation

Swedish defence company Saab has secured a $159 million contract from Germany to modernise and maintain its Taurus KEPD 350 cruise missiles. The ten-year deal, running from 2025 to 2035, includes significant upgrades to the missiles. The contract was awarded by Taurus Systems, a joint venture between Saab and MBDA Germany.

Swedish defence company Saab announced on Monday a substantial victory, securing a 1.7 billion crown ($159 million) order from Germany. This involves the modernisation and maintenance of the Taurus KEPD 350 cruise missiles.

The contract, set for a duration of ten years from 2025 to 2035, promises significant upgrades and continued lifecycle maintenance of the missiles for the German Air Force. Saab has articulated the critical nature of this contract in a public statement.

This development came after Taurus Systems, a collaborative venture between Saab and MBDA Germany, successfully received the order from Germany's defence procurement office, ensuring technological advancements in their defence capabilities.

(With inputs from agencies.)