BAE Systems said it is making moves to increase its share of the $3 billion global market for F-16 fighter jet upgrades.
The contractor generated optimism from its 2012 contract win to refurbish 130 South Korean jets.
“We’re looking at potentially where to take this next,” said Dave Herr, president of BAE’s support solutions business. “It’s a big opportunity for us.”
Kevin Brancato, a Washington-based defense analyst at Bloomberg Government, said that competition in the arms market has increased as a result of U.S. and European economic hardship.
The upgrade market has been bolstered by a total of 2,200 foreign sales of the jets to countries including Egypt, Turkey, Greece, Thailand and Chile.