South Korea and Saudi Arabia have agreed to advance their defense cooperation, focusing on weapons development and production. The two sides finalized a memorandum of understanding during South Korean Minister of National Defense Shin Won-sik’s visit to Riyadh for the World Defense Show. He met with Saudi Arabian Minister of Defense Khalid bin Salman Al...
Category: Investment Security
QinetiQ-Led Engineering Partnership To Support British Royal Navy
The U.K. Ministry of Defence’s Defence Equipment and Support has awarded a $16.4 million contract to a collaborative effort between QinetiQ, AtkinsRealis and BMT to provide operational support and services to the British Royal Navy. Under the four-year agreement, the Aurora Engineering Delivery Partnership will perform engineering services to ensure that the naval warfare force’s...
Rheinmetall Breaks Ground on New $321M Ammunition Factory in Northern Germany
Duesseldorf-based arms manufacturing company Rheinmetall broke ground on a new ammunition factory in Lower Saxony, northern Germany, on Monday in a bid to boost the country’s self-reliance in producing ammunition. The dignitaries who attended the groundbreaking ceremony included German Chancellor Olaf Scholz, Danish Prime Minister Mette Frederiksen and German Defence Minister Boris Pistorius. The company...
IonQ Advances Commitment to Develop South Korea’s Quantum Computing Technology
College Park, Maryland-based quantum computing company IonQ has renewed its partnership with South Korea’s Sungkyunkwan University to help grow South Korean quantum technology capabilities. IonQ said that under the tie-up, researchers and academics will continue to have access to IonQ’s trapped-ion quantum systems through SKKU’s Q Center in Seoul. IonQ President and CEO Peter Chapman...
Airbus to Coordinate Four European Defence Fund R&D Projects
Airbus has been tasked to manage four research and development projects under the European Defense Fund’s 41 initiatives designed to contribute to the European Union’s strategic autonomy and strengthen the region’s defense technologies and industrial base. The European Commission finalized 37 EDF grant agreements in December and signed four strategic defense R&D contribution agreements with...
Spire Global to Provide Data Support for EMSA’s Global Ship Tracking Mission
Spire Global has received two contracts from the European Maritime Safety Agency to provide satellite automatic identification system data services for ship tracking operations. Worth a total of $9.1 million, the agreements will run for four years and include the delivery of real-time and high-density backup SAT-AIS. According to John Lusk, general manager of maritime...
UK Bares $57M Stimulus for Quantum Computing Development
The British government has created the Quantum Catalyst Fund with a total of $56.8 million allocation to develop the U.K. quantum computing industry and tap the sector’s contribution toward the country’s transformation into a quantum-enabled economy by 2033. The Department for Science, Innovation and Technology said the funding opportunities include projects on quantum tech-based brain...
UK MoD Invests $2.6B Annually to Support Scotland’s Defense Sector
The U.K. Ministry of Defence spends around $2.6 billion each year to improve Scotland’s defense industry, according to official government data. For each person in Scotland, the MoD spends an average of $480, which has remained consistent in recent years. The statistics also indicate that the Defence Ministry’s investment in Edinburg directly supports 12,200 jobs...