Sweden announced a $4 billion defense investment to purchase four French navy warships, its largest defense spending since the 1980s, with deliveries expected beginning in 2030. The purchase, made following Sweden's NATO membership in March 2024, will triple the country's air defense capacity and boost European defense stocks including Swedish fighter jet maker Saab, which rose 5.3%.
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Sweden announced a $4 billion defense investment to purchase four French navy warships, its largest defense spending since the 1980s, with deliveries expected beginning in 2030. The purchase, made following Sweden's NATO membership in March 2024, will triple the country's air defense capacity and boost European defense stocks including Swedish fighter jet maker Saab, which rose 5.3%.