F-35B Stealth Fighter Jet of US Marine Fighter Attack Squadron 242 performs during the aerial display at the Singapore Airshow in Singapore, on Feb 15, 2022.Countries throughout Asia are climbing out from under the economic rubble of Covid-19 and looking for cost-effective ways to upgrade their militaries, defence companies said on the sidelines of the Singapore Airshow this week.
"A good number of countries in the region are facing rising debt ... that means the spending will very likely be very conservative," Koh said, adding that many countries were shopping for better or upgraded helicopters. At the airshow, Tim Cahill, Lockheed Martin's senior vice president for global business, said there was a "growing need for helicopters" in the region.
MPAs often carry a big price tag, however - an obstacle in a global economy still recovering from the pandemic. The last major MPA deal was the sale of six Boeing P-8A Poisideon aircraft to South Korea in 2018 for nearly US$2 billion, and four Poisideons to New Zealand for about US$1.6 billion.
Source: News Formal (newsformal.com)