Boeing sees US$15 billion market for Its defense products In India over 10 years
The Associated Press
Boeing Co. Friday said it expects to sell defense products to India worth up to US$15 billion (€11.36 billion) over the next 10 years.
"India has the potential to become one of our top three markets in Asia in the next 10 years," DowJones Newswires quoted Jim Albaugh, president and chief executive of Boeing Integrated Defense Systems, as saying.
Boeing Integrated Defense Systems is the space and defense business unit of the U. S.-based company.
Albaugh said Boeing currently doesn't earn any revenue from the Indian defense market. However, it has been selling commercial planes to India for nearly six decades.
Boeing is bidding to sell 126 new jet fighters to the Indian Air Force, which is seeking to modernize its fleet, said Albaugh, adding that the request for proposals from the Indian government was expected soon.
The company is trying to sell its multipurpose F/A-18 Super Hornet jet to India. U.S.-based Lockheed Martin Corp. , France's Dassault Aviation S.A., Sweden's Gripen-SAAB, and Russia's Sukhoi Design Bureau are also competing for the Indian contract.
Boeing is also offering to sell the heavy-lift Chinook helicopters, T-45 training aircraft, P-8A maritime aircraft, and airborne early warning and control systems to Indian defense forces.
India has never bought American planes for its air force because of frosty relations with Washington during the Cold War period, when New Delhi was a close ally of the former Soviet Union.
But relations have rapidly warmed in recent years, and the two countries have expanded their strategic cooperation, including in civilian nuclear energy.
Currently, Australia, Japan, Singapore and South Korea are Boeing's biggest markets in Asia.
Albaugh said Boeing wanted to sell its products in India and source parts and technology from Indian companies.
Boeing is currently working with a number of Indian software companies, including Infosys Technologies Ltd., Wipro Ltd., Tata Consultancy Services Ltd. and HCL Technologies Ltd., as well as state-run Hindustan Aeronautics Ltd. and Bharat Electronics Ltd.
"Indian companies have the capability to do large-scale complex systems integration," Albaugh told reporters.
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