Nordic nation bets big on Baltic security with $4B French frigate deal

Sweden announced a $4.25 billion deal to buy four French FD I frigates from Naval Group, a move that will triple the Nordic country’s air defense capacity with deliveries starting in 2030, marking its biggest defense investment since the 1980s and a step since joining NATO in 2024; the news lifted European defense stocks, with Saab rising about 5% as analysts expect continued growth in defense spending across Europe.