Italy will invest more than $8bn by 2037 to develop a sixth-generation fighter jet with the UK and Japan

Italy plans to invest more than $8bn in the development of the sixth-generation fighter aircraft by 2037. This became known from the budget document published two days ago.

Here's What We Know

Earlier we wrote that Italy will allocate about $1 billion for missile systems HIMARS, and the programme to replace infantry fighting vehicles Dardo will cost almost $16 billion, of which $5.5 billion is divided over 14 years. Italy will also spend billions of dollars to buy German Leopard 2A8 tanks.

TheGlobal Combat Air Programme (GCAP) also requires large investments. Japan and the United Kingdom are also involved in the project to develop a sixth-generation European fighter jet.

This year Italy is investing approximately $300 million in GCAP. It is expected that by 2037 the European country's expenditures will exceed $8 billion. The first flight is planned in five years, and deliveries - in the middle of the next decade.

Italy's total defence budget for 2023 was approximately $20.6bn, an increase of almost $1.65bn compared to 2022. Procurement costs for the year rose 12.5 per cent to $6.43bn, an increase of more than 52 per cent compared to 2021 ($4.22bn).

Source: Defence News