Boeing, India and Arms
What do you do if you want to watch 4,700 miles of coastline? If you're India, you buy $2.1 billion worth of maritime patrol aircraft.
That's according to the Wall Street Journal, which said the India's government signed the deal with the Chicago-based Boeing for eight P-8I aircraft.
Dana Hedgpeth, the Post defense contracting writer, says this is a big win at a good time for Boeing. Like other defense contractors, Boeing is jockeying for a bigger piece of India's defense spending budget. India wants to buy 126 fighter jets, a deal worth $12 billion. Lockheed Martin is among those going after the fighter jet contract.
Defense industry analysts say there is potentially a $60 billion market to sell India artillery, submarines, warships and other military equipment, as it tries to improve its aging equipment, much of which it bought from the former Soviet Union. Remember them?
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