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NATO Picks Saab GlobalEye Over Boeing in ~$4.5B AWACS Deal — 10 Aircraft to Replace Cold War E-3 Fleet by 2030

NATO announced at its Ankara summit that it will begin formal negotiations with Saab to acquire up to 10 GlobalEye Airborne Early Warning and Control aircraft in a deal estimated at roughly $4.5 billion, replacing the alliance's aging Boeing E-3 AWACS fleet. Eleven member nations are jointly procuring the Swedish system, which beat rival offerings from Boeing. Saab has not yet signed a contract, but the announcement sent the company's shares higher as defense investors weighed the landmark win.