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Lockheed Martin (LMT) lost the first round of India's fighter jet competition to France's Dassault, but its F-16 is likely in India's cross hairs as New Delhi starts another acquisition program.
India is looking to buy single-engine fighters to replace some of its roughly 900 fighters, mostly Russian-built aircraft nearing the end of their service lives. The single-engine jets will replace Russian MiG 21 and MiG 27 aircraft.
"Some overseas participants" were invited to participle in the program, according to a Ministry of Defense official cited by Defense News Wednesday.
Saab's Gripen E is also expected to be in the running too, along with a Russian offering.
Lockheed Martin shares fell fractionally in early trading on the stock market today. The stock has fallen sharply since peaking on Aug. 15, with Lockheed undercutting its 200-day line last week.
Last month, India signed a deal worth nearly $9 billion for 36 Rafale fighter jets, rather than picking Boeing's F/A-18 E/F Super Hornet, Lockheed's F-16 or BAE's Eurofighter.
Analysts predicted that India would launch another acquisition, likely with in the year, because the deal was too small to make a dent in India's replacement needs.
Lockheed has offered attractive incentives to New Delhi. In August, Lockheed offered to move its F-16 manufacturing to India. During U.S. Defense Secretary Ash Carter's visit to India in April, he reportedly pushed for a Boeing (BA) or Lockheed buy.
Boeing shares fell 0.9% in morning trade.
http://www.investors.com/news/lockheeds-f-16-is-likely-forerunner-for-indias-next-fighter-jet-order/
India is looking to buy single-engine fighters to replace some of its roughly 900 fighters, mostly Russian-built aircraft nearing the end of their service lives. The single-engine jets will replace Russian MiG 21 and MiG 27 aircraft.
"Some overseas participants" were invited to participle in the program, according to a Ministry of Defense official cited by Defense News Wednesday.
Saab's Gripen E is also expected to be in the running too, along with a Russian offering.
Lockheed Martin shares fell fractionally in early trading on the stock market today. The stock has fallen sharply since peaking on Aug. 15, with Lockheed undercutting its 200-day line last week.
Last month, India signed a deal worth nearly $9 billion for 36 Rafale fighter jets, rather than picking Boeing's F/A-18 E/F Super Hornet, Lockheed's F-16 or BAE's Eurofighter.
Analysts predicted that India would launch another acquisition, likely with in the year, because the deal was too small to make a dent in India's replacement needs.
Lockheed has offered attractive incentives to New Delhi. In August, Lockheed offered to move its F-16 manufacturing to India. During U.S. Defense Secretary Ash Carter's visit to India in April, he reportedly pushed for a Boeing (BA) or Lockheed buy.
Boeing shares fell 0.9% in morning trade.
http://www.investors.com/news/lockheeds-f-16-is-likely-forerunner-for-indias-next-fighter-jet-order/