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July 30, 2024 | International, Land, Security

North Korea spurs South Korea’s defence spend to $54.7bn by 2029 - Army Technology

Due to escalating tensions with North Korea, South Korea's defence budget is expected to reach $54.7bn by 2029.

https://www.army-technology.com/news/north-korea-spurs-south-koreas-defence-spend-to-54-7bn-by-2029/

On the same subject

  • Turkey reveals path to boost defense and aerospace exports by $10.2B in 2023

    December 11, 2019 | International, Aerospace

    Turkey reveals path to boost defense and aerospace exports by $10.2B in 2023

    By: Burak Ege Bekdil ANKARA, Turkey — Turkey plans to boost its defense and aerospace exports to $10.2 billion by 2023, from $2 billion in 2018, according to a government document. The “Strategic Plan 2019-2023,” released by the country's procurement agency, SSB, is also aiming for the annual revenue of the defense and aerospace industry to rise to $26.9 billion in 2023, from $6.7 billion in 2018. Also by 2023, domestic industry will meet 75 percent of military requirements, up from 65 percent in 2018, according to the plan. To his these targets, the government plans to restructure its defense export incentive system. In addition, Turkey is to launch a government-to-government sales scheme, whereas SSB will open defense export promotion agencies in 20 countries. Other critical targets detailed in the document include switching to a new procurement model; prioritizing programs that minimize dependency on foreign-made systems; and supporting models that bolster Turkey's ability to compete in high-tech markets internationally. Since coming to power in 2002, President Recep Tayyip Erdoğan has sharply increased local input in defense procurement. The government's strong priority to drop off-the-shelf procurement options and instead go for indigenous design and production has produced scores of local programs including drones, naval vessels, armored vehicles, helicopters, trainer aircraft, a new-generation main battle tank and an ambitious program to locally build a fighter jet. But an Ankara-based defense analyst warned that some of the government's targets do not look feasible. “Take the export target, for instance,” the analyst told Defense News. “The original export target for 2023 was $25 billion. Now they have come down to a still-difficult $10.2 billion. That's a long way from the current level of around $2 billion.” https://www.defensenews.com/industry/2019/12/10/turkey-reveals-path-to-boost-defense-and-aerospace-exports-by-102b-in-2023

  • Greece signs pact to buy three frigates from France

    October 1, 2021 | International, Naval

    Greece signs pact to buy three frigates from France

    The Greek ministry of defense has committed to buying three frigates from France's Naval Group with weaponry supplied by MBDA in a potential $3.5 billion deal, the companies announced on Sept. 28.

  • Boeing, U.S. Navy to develop long-range strike missile demonstrator

    October 22, 2020 | International, Naval, Security

    Boeing, U.S. Navy to develop long-range strike missile demonstrator

    Ed Adamczyk Oct. 21 (UPI) -- Boeing has received a $30 million U.S. Navy contract will demonstrate advanced missile technologies for use on F/A-18 Super Hornet fighter planes, the company said. Boeing and the Navy's Air Warfare Center Weapons Division will develop the Supersonic Propulsion Enabled Advanced Ramjet, or SPEAR, flight demonstrator, with a first flight scheduled for 2022. The contract comes after the Department of Defense sought information to help the Navy determine technical requirements of future carrier-based land and sea strike weapons systems, a Boeing statement on Tuesday said. The statement cites the company's "prior successes" in work on the experimental X-51A Waverider, a hypersonic weapon capable of traveling at five times the speed of sound, as well as the Triple Target Terminator program. The T-3 was led by the Defense Advanced Research Projects Agency and explored use of very-long-range missiles launched from aircraft to combat hostile aircraft, cruise missiles and on-ground air defense shields. Although no connection between supersonic and hypersonic missiles was announced, the Boeing statement indicates that the capabilities of the demonstrator will be included in future anti-ship and land-attack missiles carried by fighter planes. Boeing-built Navy F/A-18E/F Super Hornets will likely have advanced features added during Block III upgrade programs. Weapon advancements from the SPEAR program could also be added to F-35 Joint Strike Fighter aircraft as well. https://www.upi.com/Defense-News/2020/10/21/Boeing-US-Navy-to-develop-long-range-strike-missile-demonstrator/5121603298420/

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