Boeing Defense Sales Could Double in Middle East

The increased turmoil in the Middle East has countries in the region shopping for new high-tech military equipment.

November 22, 2012
Manufacturing Group
Industry News Materials

The increased turmoil in the Middle East has one U.S. company seeing dollar signs.

According to Reuters, Boeing expects to double revenue to about $4 billion from its defense and security business in the region over the next two years.

The uprising could be just what Boeing has been looking for. With looming spending cuts, the company has been planning to reduce its reliance on U.S. government work, and Arab Spring uprisings have Gulf Arab states and other Middle Eastern countries looking for new military technology.

Boeing's fighter jets and C-17 military transport aircraft are in high demand, according to Reuters. Last year, Boeing signed a $29.4 billion deal to sell 84 F-15 fighter jets to Saudi Arabia, as well as a big defense sale to UAE.

The Middle East accounts for a third of Boeing's international defense business, Jeff Johnson says, according to Reuters.

Edited from an article on Reuters. Click here to read the full story.