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BAE Systems Receives $32 Million in Orders for Its Advanced 3P Ammunition From Sweden and Finland
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Rhea-AI Summary
BAE Systems has secured two contracts totaling approximately $32 million for its advanced Bofors 57mm 3P ammunition from the Swedish Defence Materiel Administration and the Finnish Defence Forces Logistics Command. The Swedish order is valued at about $18 million, aimed at enhancing military readiness amid regional security concerns, with options for further procurement in 2023. The Finnish order is worth around $14 million, reinforcing supply security for the Finnish Navy.
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Secured contracts worth approximately $32 million, enhancing revenue.
Sweden's order of $18 million boosts military readiness amidst security concerns.
Finnish order of $14 million strengthens fleet preparedness.
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None.
KARLSKOGA, Sweden & FALLS CHURCH, Va.--(BUSINESS WIRE)--
BAE Systems has signed two contracts worth approximately $32 million for its market-leading Bofors 57mm 3P (Pre-fragmented, Programmable, Proximity- fused) advanced ammunition in a combined procurement from both the Swedish Defence Materiel Administration (FMV) and the Finnish Defence Forces Logistics Command (FDF LOG COM).
Sweden is ordering a large stock of the Bofors 57mm 3P advanced ammunition, for an order value of approximately $18 million. This is a critical step for the Swedish Armed Forces as they continue their efforts to increase readiness in the face of the current security situation in Central Europe. The FMV also has a contract option for additional quantities in 2023.
Finland is also ordering a considerable stock of rounds of the ammunition, valued at approximately $14 million. This is an important step in reinforcing the security of supplies as Finland, and in particular the Finnish Navy, also confirms its readiness.
“Our customers in Sweden and Finland are investing in our advanced 3P ammunition as part of their plans to increase preparedness in a more dynamic security situation,” said Stefan Löfström, director of marketing and sales at BAE Systems Bofors in Karlskoga, Sweden. “We continue to see interest from other potential customers who are looking for the flexibility and adaptability that our 3P products bring.”
The 3P ammunition is designed for the Bofors 57 Mk3 naval gun system, which is the standard naval gun in both the Swedish and Finnish navies. The company also produces a 40mm 3P which can be fired from the Bofors 40 Mk4 gun system. Both variants can be programmed in six different function modes. It is a flexible and multipurpose round, suitable to defeat targets such as drones, missiles, and helicopters, swarming boats, surface vessels, and land targets. It can also be fired from combat vehicles, such as the Swedish Army’s CV90s, which are equipped with a Bofors 40mm turret.
