BAE's Asian, Mideast jet orders to offset cuts
London, June 11, 2013
Sales of combat aircraft in the Middle East and Asia will more than compensate for cutbacks in US and European spending, Britain's BAE Systems predicted on Tuesday.
Europe's largest defence contractor forecast international markets outside its US and European heartlands would rise to account for around half of turnover at its military air and information unit by 2016, up from around 25 percent currently.
"This is a prudent view," Peter Anstiss, business development director of the unit said at a briefing on Tuesday in Warton, in north west England.
"Very clearly, the international market could more than compensate for the reductions in the US and UK market."
BAE's aircraft include the four nation-backed Eurofighter Typhoon, which it is developing in a consortium with European aerospace group EADS and Italy's Finmeccanica .
Saudi Arabia and Oman have so far signed up to buy Typhoon jets and the plane is also vying to win deals in countries such as Malaysia, South Korea and the UAE.
South Korea is likely to be the next nation to decide which aircraft it will choose when it places an order for 36 jets, Anstiss said. The Typhoon is competing against Boeing's F-15 and Lockheed Martin's F-35 fighter jet.
Countries in the Gulf region have the potential to purchase 150 more Typhoon jets, Anstiss said, adding that this figure excluded Saudi Arabia's order for 72 Typhoon jets and Oman's 12 Typhoon aircraft.
In India, where the company lost a competition to supply the country with 126 fighters to Dassault Aviation's Rafale aircraft, BAE is waiting on the sidelines to jump back in should the talks fall through, he said.
A decision from the Indian government with regards to a signed deal with Dassault could come before the second quarter of next year when the country holds its elections, he said. - Reuters
More INTERNATIONAL NEWS Stories
- Malaysia Airlines jet goes missing over China
- Obama orders sanctions over Russian moves
- Crimea parliament votes to join Russia
- Arab League to be revamped
- 'Upskirting' is legal: Massachusetts court
- Singapore probes 'unnatural' death of bitcoin trader
- Onus on world powers for Syria war crimes: UN
- US, Russia set for talks on Ukraine crisis
- Brent oil drops below $109
- Services outshine manufacturing, pushing up jobs
- Bitcoin bank shut down after hacker attack
- India to kick off world's biggest poll on April 7
- China signals focus on reforms
- Hundreds ready for bitcoin exchange class action
- Space taxi, Jupiter mission in Obama budget
- Putin: Use of force last resort in Ukraine
- Powers to boost Lebanese military, economy
- Egypt bans Hamas activities in Egypt
- Putin ends army exercise, markets rally
- Russia has violated international law: Obama
- Russian markets hit as Putin tightens grip on Crimea
- Iran nuclear deal 'being implemented as planned'
- Global factory growth stumbles as demand falters
- Obama warns of 'fallout' for Israel if peace effort fails
- Ukraine mobilises after Putin's 'declaration of war'
- Oil jumps $2 over Ukraine tension
- US threatens to isolate Russia for Ukraine aggression
- Ukraine mobilises for war, calls up reserves
- Berkshire net profit surges 31pc
- China blames militants for deadly station attack