BAE Systems, Leonardo, and Japan Aircraft Industrial Enhancement Company announced the formation of a joint venture for the Global Combat Air Programme (GCAP). This initiative aims to develop a next-generation fighter jet, operational by 2035, incorporating innovative technologies like virtual reality in the cockpit. The headquarters will be in the U.K., with a shared leadership structure. The partnership is seen as a pivotal moment for international defense innovation, with potentials for expansion to include Saudi Arabia. Regulatory approvals are pending.