Ukrainian missile manufacturer: plans to launch "disruptive" air defense system in 2027

The Ukrainian "Flamingo" cruise missile manufacturer Fire Point's senior executive told Reuters that the company is in talks with European companies and plans to launch a new air defense system next year as a low-cost alternative to the increasingly hard-to-obtain "Patriot" system. With the global turmoil sparked by the Russia-Ukraine conflict and the Iran war, governments around the world are working to strengthen their air defense capabilities. Fire Point co-founder and chief designer Denys Shtilierman said the company's goal is to reduce the cost of intercepting a ballistic missile to below $1 million. Shtilierman also mentioned that Fire Point is waiting for government approval of an investment from a consortium in the Middle East, which values the company at $2.5 billion and will open up new business opportunities including launching low-orbit satellites.