Israeli defence major Israel Aerospace Industries (IAI) has signed a memorandum of understanding (MoU) with Lockheed Martin to explore cooperation in integrated air and missile defence (IAMD) systems.
The strategic agreement will focus on potential joint opportunities between the partners in areas such as research and development (R&D), production, marketing and other activities.
Lockheed Martin global business development senior vice-president Tim Cahill said: “Our long-standing relationship with the state of Israel and its defence industries opens new opportunities for Lockheed Martin, aimed to expand our businesses around the world while delivering unmatched IAMD capabilities to our global customers.
“This new memorandum of understanding is yet another step in our strategy for cooperation with IAI, as a partner in some of our key programmes.”
For the implementation of this MoU and cooperation, Lockheed Martin and IAI will form an ‘executive steering committee’ and working groups.
According to IAI president and CEO Boaz Levy, the MoU will help bring together both the companies development capabilities, know-how and experience in IAMD systems.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
Levy expects the strategic agreement to ‘create win-win opportunities for both sides’.
He added: “IAI looks forward in exploring this cooperation and optimising the possibilities in it.”
In March this year, IAI conducted live firing trials with the BARAK air defence system to showcase its effectiveness.
In August last year, Lockheed Martin and MBDA Deutschland submitted an updated proposal to deliver Germany’s future IAMD system.