Joint ventures key to industry staying competitive
In order for major defence manufacturers to remain competitive, they must shift their focus to collaborating with individual countries in a series of 'joint ventures' or risk missing out on prospective deals.
That was the assessment of Rick Edwards, executive VP International at Lockheed Martin as he discussed the company's strategy for growth at a press briefing in London on 6 March.
Referring to the example of Saudi Arabia and its 2030 vision, Edwards pointed out that the Middle East region is fixed on increasing its industrial base by shifting from current domestic defence spending of 2% to 50%.
'That’s
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