Fire Point, maker of Ukraine's Flamingo cruise missile, is in talks with European companies to launch a new air defense system by next year, a senior executive said, creating a low-cost alternative to the increasingly hard-to-get Patriot system.
With governments seeking to defend their skies as the wars in Ukraine and Iran sow global instability, Fire Point's co-founder and chief designer Denys Shtilierman said it aimed to slash the cost of intercepting a ballistic missile to below $1 million.
Shtilierman also said Fire Point was awaiting government approval for an investment by a Middle Eastern conglomerate that valued the company at $2.5 billion and would open the door ?to new business opportunities, including low-orbit satellite launches.
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