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Egypt upgrading its fast missile boats and buying new long-range radars
One of the first foreign arms sales of the new Trump administration could bring $929 million in new revenue to US defense contractors Lockheed Martin, L3Harris, and Northrop Grumman.
Rich Smith
February 08, 2025
The US Defense Security Cooperation Agency notified Congress Tuesday that Egypt intends to sign two separate contracts to upgrade its Fast Missile Craft and buy new AN/TPS-78 Long Range Radar systems.
The first of these contracts, worth $625 million to principal contractors Lockheed Martin (NYSE: LMT) and L3Harris (NYSE: LHX), will see Egypt acquire four Component Based Total Ship System, 21st Century (COMBATSS-21) combat management systems for its navy.
A separate contract, worth $304 million to principal contractor Northrop Grumman (NYSE: NOC), covers the sale of AN/TPS-78 long range radar turnkey systems; KIV-78 cryptographic devices; and Global Positioning System (GPS) devices.
The total value of these contracts to U.S. defense contractors, if approved by Congress, comes to $929 million.
Full news releases here:
https://www.dsca.mil/press-media/major-arms-sales/egypt-fast-missile-craft-modernization
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