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BAE Systems and Lockheed Martin are bidding to secure F-16 modernization contracts with international customers as U.S. and European military organizations turn to upgrade work instead of new orders amid decreased funding, Reuters reported Monday.
Sarah Young and Andrea Shalal report that the global market for F-16 upgrades is worth $10 billion over the next decade.
John Bean, vice president for global fighter programs at BAE, said Singapore, Greece, Turkey, Chile and up to four other countries are some of the potential customers for modernization of the fighter jets.
BAE won a contract in 2012 to upgrade South Korea’s 130-plane F-16 fleet for $1.3 billion, including work on the weapons systems, mission avionics and e-scan radar, the report said.
Bean added Egypt and Morocco could also seek upgrades for their F-16s in the future.
Bill McHenry, the company’s business development head for the F-16 program, told Reuters that Lockheed is performing upgrade work on Taiwan’s F-16s, including cockpit avionics and mission computer upgrades.
Henry said he expects Greece to issue a revamp for its F-16s within the next 12 months due to that country’s improving economy.
