A trilateral framework was signed for the development of the Future Combat Air System (FCAS), signaling Europe’s largest arms project to date. The next-generation fighter jet will be produced by Dassault Aviation and Airbus. As project lead, France will initially invest $2.6 billion, with Germany covering $1.9 billion. Spain has announced its involvement but the extent of its cooperation is still to be determined. The FCAS is slated to be finished in 2040 and will replace current Rafale and Eurofighter jets. Europe is seeking more autonomy in defense while countries such as the US and China continue to lead in the industry. Britain announced plans last July to develop the Tempest fighter, but the possibility of full European cooperation has been marred by Brexit.
