Fire Point, the maker of Ukraine’s Flamingo cruise missile, is in discussions with European companies to develop a new air defense system set to launch by next year. This system aims to provide a low-cost alternative to the increasingly scarce U. S.-made Patriot system, with the ambitious goal of cutting the cost of intercepting a ballistic missile to below $1 million. Denys Shtilierman, Fire Point’s co-founder and chief designer, stated that the company is seeking government approval for an investment from a Middle Eastern conglomerate valuing Fire Point at $2.5 billion, which would also open new business avenues such as low-orbit satellite launches.
As the wars in Ukraine and Iran create global instability, Ukraine has gained a reputation for affordable defense technology through its battlefield experiences. The Ukrainian government has begun to ease wartime export restrictions, although any proposed deals still require strict oversight and approval. Several Ukrainian defense firms are now trying to export their surplus capacity amid a worldwide increase in military spending.
The Ukraine and many allied countries depend heavily on the Patriot system to intercept ballistic missiles. However, the supply of Patriot missiles is dwindling due to their extensive deployment against Iranian threats in the Gulf. In addition, Europe has limited alternatives with the Italo-French SAMP/T being produced in smaller quantities. Shtilierman mentioned that stopping a ballistic projectile typically requires two or three expensive Patriot missiles, making their affordability a significant challenge. He projected that Fire Point could intercept their first ballistic missile by the end of 2027.
Fire Point is currently in negotiations with unnamed European companies to collaborate in areas where it lacks expertise, such as radar and missile targeting technologies. Noteworthy European firms with capable radar solutions include Weibel, Hensoldt, SAAB, and Thales. Fire Point, founded after the onset of the war in 2022, has become Ukraine’s leading manufacturer of long-range drones and has successfully deployed its FP5 long-range cruise missile against Russian targets.
Shtilierman indicated that Fire Point is in the final stages of developing two new supersonic ballistic missiles. The smaller FP-7 missile, with a range of about 300 km, will soon see military deployment, while the larger FP-9, capable of carrying an 800 kg warhead over 850 km, is undergoing testing. He speculated that striking Moscow could significantly shift perceptions within Russia regarding its defenses. An expert noted that although Russia has successfully intercepted similar missiles, increased use of ballistic missiles by Ukraine could stretch Russian defenses, which have already sustained damage.
Fire Point is anticipating a decision from Ukraine’s anti-monopoly authority on a proposed $760 million investment from the Emirati defense firm Edge Group for a 30% stake in the company. This investment would be the first move towards constructing a space launch terminal in the UAE and establishing low-orbit European satellites. Regardless of the UAE deal’s outcome, Fire Point will not pursue further investments until it demonstrates success with its missile defense system.
Currently, Fire Point has received interest from Gulf states for its drone products and is waiting for government approval for exports. The company can produce approximately 2,500 long-range drones monthly, each costing about €50,000, while three Flamingo missiles cost about €600,000 each. However, Shtilierman acknowledged production challenges related to the Flamingo missiles but expects an increase in output once a new engine goes into mass production and a rocket fuel plant in Denmark becomes operational later this year.
With information from Reuters
