Air Show 2012, Big Demand From the Middle East and Asia

  on Jul 10,2012 Posted in International
 
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Top weapons industry executives said at the 2012 Air Show, despite the tight Military budgets in the United States and Europe , that there is still a growing demand trend seen in the Middle East, Asia and other regions for new helicopters, fighter jets, and surveillance equipment.

The Farnborough International Airshow is the largest aerospace showcase in the world and is capturing the attention of large audiences.

The opening ceremony was started by British Prime Minister David Cameron in the presence of 83 trade and military delegations from over 43 countries. They got a firsthand look at new commercial and military aircraft, including the Boeing Co’s 787 Dreamliner, a tilt-rotor aircraft built by Boeing and Bell Helicopter, the European four-nation Typhoon and the V-22 Osprey, a unit of Textron.

Swanson, who comes to the show every year to meet personally with foreign buyers, said that foreign sales account for about 25 % of Raytheon’s $25 billion in annual revenue. He said that he can’t understand why other defense companies are so focused on their domestic troubles.

The U.S. military market remained a very rich and potential field despite the deep cuts in spending expected in coming years, as the U.S. is still spending $500 billion dollars on it.

Northrop Grumman Corp stayed home this year by saying that it preferred air shows in Asia and the Middle East, where the emerging new weapons are in demand.

The chief weapons buyer of the Pentagon, Frank Kendall, and the Vice Admiral David Venlet, who are the in charge of the F-35 Joint Strike Fighter program, also skipped this year’s arms show and airplane bonanza, because of tight budget problems at home.

President of Boeing Military Aircraft, Chris Chadwick said continuing uncertainty about the U.S. budget has dampened the mood at the Airshow, where the rain clouds literally had darkened the sky all the day. The interest of foreign arms buyers were still not in the same form as expected.

 
 

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