The joint Russian-Indian venture BrahMos Aerospace plans to sign $1 billion worth of new contracts by the year-end, which will take the company’s yearly total to $6 billion.
“We plan to sign a number of contracts soon. Thus, our total order portfolio will amount to $6 billion by the end of this year,” a company spokesperson told Sputnik.
Most orders were placed by land forces, 40 percent, the spokesperson said. Navy and air forces accounted for 30 percent of the orders each. At the moment, the worth of BrahMos’ contracts signed in 2021 is just over $5 billion.
BrahMos Aerospace, established in 1998, specializes in producing cruise missiles and supporting equipment, such as launchers and missile guidance systems.
Earlier, there were reports that India and the Philippines had signed an agreement for a potential supply of BrahMos missiles that the Philippine government believes will boost its coastal defense, Straits Times had reported.
The BrahMos is a medium-range supersonic missile that can be launched from submarines, ships, aircraft or land-based platforms. It is considered to be the fastest supersonic missile in the world that can achieve a speed 2.8 times the speed of sound.
The missile can be used for coastal defense and ground attack and is expected to boost the Philippines firepower of the island nation as it faces hostilities from China, the Straits Times had reported.
The name of BrahMos comes with the amalgamation of rivers Brahmaputra and Moskva and is jointly produced by Indian DRDO and Mashinostroyenia of Russia.
“India’s missile development program has made sure that its missiles are upgraded and new systems are also developed. BrahMos has undergone development through the early 2000s till date. Its land-to-land, submarine-fired and now air-fired variants have been developed stage by stage. Each new version has something additional compared to the previous version,” said a DRDO scientist.
The Indian Navy indicted the BrahMos missiles on its warships in 2005 while the army began acquiring them from 2007. After the Indian Air Force successfully air-launched a Mach 2.8 supersonic surface-attack missile of this category from a fighter jet, it became the first in the world to do so.