Lockheed Martin, Tata in joint venture

Indian conglomerate Tata announce that it had entered a joint venture with US defense manufacturer Lockheed Martin Corp to make aircraft components for the C-130 transport planes.

Lockheed, which has sold India six C-130 J transport aircraft in a $1 billion deal, told Reuters at the Bangalore airshow last week the country had expressed interest in buying another six.

The joint venture between Lockheed and Tata Advanced Systems is not the Indian salt-to-software giant's first foray into defence.

In 2009, Tata Advanced Systems formed a joint venture with Sikorsky Aircraft, a subsidiary of United Technologies Corp. to make aerospace components in India.

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