A £400 million sterling order for a new multi-purpose missile system will help to create 80 jobs in Northern Ireland.
Stormont Enterprise Minister Sir Reg Empey claimed there could be spin-off for other businesses from an announcement that Thales Air Defence in east Belfast will supply the Royal Marines, army infantry battalions and the RAF with a short-range "fire and forget" anti-armour weapon.
The weapon is capable of destroying tanks, buildings and other military targets. The contract will create 80 new jobs for the firm which will team up with other industry leaders from around the world in a consortium headed by Saab Bofors Dynamics from Sweden.
Other partners include the US firm Raytheon and BAE Systems in Britain. Just hours after the deal was announced by defence procurement minister Lord Bach, Sir Reg claimed "significant export opportunities" could result from the awarding of the contract.
"The consortium's choice of Thales in Belfast for such a pivotal role in the programme is a massive endorsement of the high tech skills and experience to be found here," he said.
"It strengthens the position and standing of the Belfast plant as an international centre of excellence in sophisticated defence technology.
"Key programmes such as this also have an important impact on research and development levels, offer high value job opportunities and provide spin-off business for smaller suppliers."
The Democratic Unionist MP for East Belfast, Peter Robinson claimed the company's share of the deal would be worth £70 million.
With sales predicted at between 80,000 and 100,000 weapons, the Next Generation Light Anti-Armour Weapon (NLAW) will enter service by 2006-07.