“U.S. Approves $740 Million Stinger Missile Transaction with Egypt”
The U.S. Department of State has approved the anticipated acquisition of 720 Stinger missiles by Egypt for $740 million, as announced by the Pentagon on Tuesday.
The missiles have experienced significant demand in Ukraine, where they have successfully countered Russian aerial assaults, and in neighboring European countries that are concerned they may also need to defend against Russian forces.
Egypt intends to install the Stingers on vehicles equipped with the Avenger launch system rather than using a shoulder-mounted configuration.
The primary contractor will be RTX Corporation (RTX.N), as indicated by the Pentagon.
This summer, multiple NATO allies placed orders totaling nearly $700 million for these missiles. That procurement has extended the production backlog until 2029. Egypt’s acquisition further adds to this rise.
