Bilal Khan (Quwa)
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The PAF Chief of Air Staff (CAS) said that a LIFT will come before the FGFA.I would say economies of scale, but you cannot rule out state subsidy as well. In my first job I was working with SHI on some of their driling platforms most of the work was subsidised by Korean government so they could win the work and keep shipyard busy.
That being said Koreans have come a long way from where they started off and their Tech is well matured as well. If economy was in a better state I would say that PAF would be spoilt for choice. If they can provide funds at this stage, either aircraft will transform the current training regime employed at PAF.
I also think that either aircraft, if procured in numbers; can come with good deep level ToT to build on already available skills from making JF-17. The Italian will be far easier in this venture than the Koreans, Koreans tend to be more open in keeping manufacturing in house.
Even if the PAF were to opt for the upcoming Chinese J-35, I don't think that would become a factor before 2030. So, if there's no interim fighter on the roadmap (e.g., F-16, J-10), I think the PAF will finalize its LIFT requirements by 2022-2023, and induct the aircraft by 2028. The initial batch would likely hover around 24-32 aircraft.