BAE Systems (LON:BAES), Leonardo, and Mitsubishi Heavy Industries have announced a joint venture to develop a sixth-generation stealth fighter jet, with ambitions to have the aircraft operational by 2035.
The Global Combat Air Programme (GCAP) aims to produce a supersonic stealth fighter that could remain in service beyond 2070.
The three companies will hold equal shares in the venture, with BAE Systems from the U.K., Leonardo from Italy, and Mitsubishi's subsidiary Japan Aircraft Industrial Enhancement from Japan each owning a 33.3% stake.
The joint statement released on Friday detailed the venture's responsibility for the aircraft's design, development, and delivery, including future versions for as long as the jet is in the market.
Headquartered in Reading, U.K., the venture is expected to be operational by mid-2025, with teams working across the partner countries. The first CEO will be appointed from Italy.
The collaboration is supported by an international treaty between the U.K., Italy, and Japan.
The project, which will include a fleet of drones and advanced computational systems for real-time decision-making, has been compared to large-scale space endeavors by Leonardo's CEO Roberto Cingolani.
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