17 Jan '11, 3pm

India lucrative military aircraft market: analysts

SINGAPORE: Aviation companies have set their sight on India to expand their military aircraft businesses in Asia. Analysts say this comes as India looks towards modernising its aircraft fleet and boosting its defence. The country has raised its estimated military budget by four per cent to about US$32.4 billion for the year ending this March. India's Air Force was the biggest military spender at Singapore's Air Show last year. It ordered 750 surface-to-air missiles from Bharat Electronics at an estimated cost of US$860 million. Analysts say India's big push to buy military hardware is partly in response to China, which just last week announced the debut flight of its J20 stealth fighter jet. And companies like Lockheed Martin or Boeing, which gets half of its revenue from the military segment, is locked-on to the country's potential. Flightglobal Group Asia managing editor...

Full article: http://www.channelnewsasia.com/stories/corporatenews/view...

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