Posted on 06/04/2010 11:16:48 PM PDT by ErnstStavroBlofeld
Boeing's F-15E Strike Eagle. The company expects defense revenue from outside the U.S. to rise to much as 25 percent of all its defense business in five years on demand for fighter jets and helicopters.Boeing Co. expects defense revenue from outside the U.S. to rise to much as 25 percent of all its defense business in five years on demand for fighter jets and helicopters from Asia-Pacific countries.
International revenue makes up about 16 percent of the defense division's total sales, Dennis Muilenburg, the head of the unit, said in Singapore today. Business from the Asia- Pacific, which accounts for about half of international revenue, will increase 50 percent during the next five years, he said.
"We see some growth certainly in countries like India and Australia," Muilenburg said. "We have seen some moderations and flattening in the U.S. defense budget and that has impacted us. We see our core business being stable."
Boeing is bidding for an order of 126 fighter jets from India, the world's biggest now in play, as countries in the region upgrade and expand their air forces. The Chicago-based company is seeking growth in Asia as military spending in the U.S. continues to be under "significant budget pressures," Chief Executive Officer Jim McNerney said in April.
(Excerpt) Read more at dailyherald.com ...
Ping
Ping
Bump
I love capitalism but when it comes to defense of our country we need to be more cautious when selling weapons to other countries. I don’t know where we draw the line and we need more accountability but there has to be a better way to compensate our defense contractors to keep our weapons on our shores. The other thing is that the other countries around the world see whats coming and are gearing up. I hope our defense readiness is staying up to speed. With Barry and Company at the helm right now I don’t feel like this is in anyway a top priority for them.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.