The author examines the background, rules and structure of the NATO SeaSparrow Program in the context of the “Smart Defense” initiative, introduced by Secretary General Anders Fogh Rasmussen at the NATO Summit in Chicago in 2012 as an attempt to counteract the defense budget cuts in the Allied Countries. The main objective of the study was to identify the mechanisms of the NATO SeaSparrow Program that could serve as the basis for future programs developed within the NATO initiative.