Germany to Approve New Military Procurement Contracts

German lawmakers are expected this week to approve €2.9 billion of military procurement contracts, as part of the country’s defense push. One of the contracts is for the development of...

By Bloomberg Markets · Bloomberg Markets

German lawmakers are expected this week to approve €2.9 billion of military procurement contracts, as part of the country’s defense push. One of the contracts is for the development of an AI platform to monitor NATO’s eastern flank. German defense startups Helsing and Arx Robotics are set to be awarded a contract to start developing the platform. But an Airbus-led consortium will also be given the go-ahead. The main contract will be awarded to one of the two groups at a later date. Marc Wietfeld, CEO of Arx Robotics speaks to Guy Johnson and Anna Edwards on 'Bloomberg: The Opening Trade' about the role it is playing in modernizing Europe's defense industry. (Source: Bloomberg)