Nukkleus Inc. (NASDAQ:NUKK) stock surged 46% following the announcement of a strategic joint venture with Israeli firm Mandragola Ltd. focused on commercial and defense-oriented infrastructure modernization.
The partnership will establish advanced manufacturing zones in both the Baltics and Israel to support civil and defense aviation needs. Plans include developing a NATO-compliant logistics hub in Riga and facilities for licensed Maintenance, Repair, and Overhaul (MRO) services, aircraft modernization, resale, and leasing.
This initiative comes amid heightened geopolitical tensions in Europe, particularly in the Baltic States, as the Russia-Ukraine conflict reshapes regional defense priorities. The global aircraft MRO market, currently valued at $110 billion in 2024, is projected to grow to $124 billion by 2034.
The joint venture will be led by a five-member Board of Directors alongside an Advisory Board featuring experienced aviation professionals, including two former Israeli Air Force pilots. Additionally, the partnership will identify and finance early-stage technology companies in Israel, focusing on innovations that can be integrated into aviation and defense operations…