Sweden’s Defence Material Administration (FMV) awarded Saab AB an order worth $183 million for the development and production of the New Lightweight Torpedo system.
The order is under the terms of a Letter of Intent (LoI) between Saab and the FMV first announced on June 9, 2014. The LoI supports Sweden’s armed forced underwater capabilities for the 2015-2024 capabilities. The newest order connects the previous orders from FMV announced in July 2014 and February 2015 for the New Lightweight Torpedo.
Deliveries for the system are set to take place from 2016-2024.