LONDON/TOKYO — The main defense contractors of the U.K., Japan and Italy reached an agreement on Friday to set up a joint venture by mid-2025 to manufacture next-generation fighter jets under a Global Combat Air Programme (GCAP) established two years ago.
Britain’s BAE Systems, Italy’s Leonardo and Japan Aircraft Industrial Enhancement Co. (JAIEC), a consortium led by Mitsubishi Heavy Industries, said in a statement that the three parties will take an equal split in the joint venture that will be based in the U.K., with the first CEO to come from Italy.
