The new Corvette will be a competent and adaptable surface combatant aimed at meeting the needs of international customers. Babcock and Saab intend to market the new design to global export markets jointly.
Under the Agreement, the companies will explore the project's development for a new advanced corvette of around 100 meters. The joint development will benefit from Saab's expertise in naval combat management systems and composite structures and Babcock's expertise in platform design and integration to create a new class-leading capability.
The potential customers are unknown. The new deal might be an answer to the European Patrol Corvette (EPC), which is also known as Modular and Multirole Patrol Corvette (MMPC) or Eurocorvette, the joint venture between İtalian Fincantieri, the French Naval Group and Spanish Navantia. The European Union, through the European Defence Fund (EDF), offers funding of 60 million euros for Eurocorvette. In the next stage, the basic design, European funding will rise to another 154.5 million euros.