Italy is set to invest nearly €7.5 billion ($8.1 billion) over the next 11 years in the procurement of 24 new Eurofighter jets, according to a document released by the Ministry of Defence. The move comes as NATO members ramp up defense spending in response to heightened geopolitical uncertainty.
The new Eurofighters will replace the Italian Air Force’s aging fleet of Eurofighter and Tornado jets, ensuring the country maintains a modern and capable air force. The program, slated to run from 2024 to 2034, will also provide technical support and staff training for the new aircraft.
Leonardo, the Italian state-controlled aerospace and defense group, will serve as the prime contractor for the order. The company, part of the Eurofighter consortium alongside Airbus and BAE Systems, will be responsible for the construction and delivery of the new jets.
“The programme… will have a multi-year development time frame of approximately 2024-2034… for a total amount of 7,477.3 million euros,” the defense document states. The initial €690 million has already been allocated, while the remaining €6.8 billion will be financed through arrangements to be determined in the future.
The Italian government submitted the purchase program to parliamentary committees for review last week, and a final decision is expected by mid-August.
The acquisition of new Eurofighters is part of Italy’s larger plan to modernize its air force and transition towards the Global Combat Air Programme (GCAP). Italy is collaborating with Britain and Japan on the GCAP, which aims to develop a new advanced fighter jet by 2035.
The purchase is anticipated to have a significant impact on the European defense industry, particularly Leonardo, and will provide Italy with a critical edge in maintaining its air supremacy. The new Eurofighters will be a vital asset in bolstering Italy’s defense capabilities and contributing to NATO’s collective security.