German Defense Minister Boris Pistorius and his French counterpart, Sebastien Lecornu, announced Friday the two countries will produce the next-generation battle tank to replace Germany’s Leopard 2 tank that will land on modern battlefields in the late 2030s or early 2040s.
“It’s not about making a Leopard 3 or 4; it’s about designing something brand new,” German defense minister Pistorius said, as quoted by Euronews.
Pistorius said the next-gen main battle tanks will be equipped with artificial intelligence and will not require “human pilots.”
French defense ministry Lecornu said KNDS, Rheinmetall, Thales, and other defense manufacturers will begin work on the ‘tank of the future’—formally known as the Main Ground Combat System (MGCS).
Developing a next-generation tank comes as there have been countless reports that Russian armed forces have destroyed Leopard 2 tanks operated by the Ukranian Army.
And this…
Germany and France are also pushing to build the next-generation fighter jet, called the Future Combat Air System, which is set to enter service in 2040, along with integrated drone fleets.
The trend is that a world emerging into a multi-polar state has sparked a surge in military spending worldwide.
A new Stockholm International Peace Research Institute report detailed how global military expenditures hit a record high of $2.44 trillion in 2023.
We’ve diligently noted that the defense sector is in a bull market:
- World Stumbles Into “More Dangerous Decade” As Defense Spending Soars, Says Military Think Tank
- Germany Reportedly Goes On Military Spending Spree To Hit NATO Spending Minimums For First Time
- Lockheed Martin Wins $17BN Interceptor Contract To Protect US Homeland
- German Tank Builder Says “New Decade Of Security Policy Begins” As Defense Bull Market Roars
- SAAB CEO Says Rising War Risk Drives Defense Spending; Missile Stocks In Bull Market
Global defense stocks, tacked by MSCI, have surged to record highs.
The chaos in the world is not going away. Everything is up for grabs.
Tyler Durden
Mon, 04/29/2024 – 05:45
