The State Department on Wednesday said it has approved a potential $2.8 billion sales of modernized Patriot air defense fire units and related equipment to Spain, the first major foreign military sale (FMS) announced in fiscal year 2024.
The proposed sale, which was notified to Congress on Wednesday by the Pentagon’s Defense Security Cooperation Agency, includes four Patriot Configuration-3+ modernized fire units, 51 Patriot Advanced Capability (PAC) 3 Missile Segment Enhanced missiles, 24 M903 launch stations, four AN-MPW-65 radar sets, four AN/MSQ-132 engagement control stations, two information coordination central, eight antenna mast groups, four electrical power plants, and four energy power units.
RTX [RTX] is the prime contractor for the Patriot battery and Lockheed Martin [LMT] builds the PAC 3 missile segment enhanced interceptor missiles. The companies partner on the AN-MPQ-65 radar.
The Patriot deal follows another possible FMS announced by the State Department on Tuesday, a $70 million sale to Oman for TOW 2B radio frequency missiles and support. The deal would cover 301 of the RTX-built TOW missiles, which are used by ground forces to defeat armor and hardened targets.
The State Department said the proposed Patriot sale will improve Spain’s missile defense capability and improve interoperability with U.S. and NATO forces. Spain already operates the Patriot system.
The nearly $2.9 billion in FMS notices in the early days of FY ’24 follows a record $108 billion in FMS cases notified to Congress in FY ’23, according to TD Cown defense analyst Roman Schweizer. European nations led demand in FY ’23, up 121 percent over the prior fiscal year, he said in an Oct. 2 note to clients.
“The UKR war has prompted countries to reevaluate military budgets and strategies, including the need to address aging equipment and low stockpiles,” he wrote.