WASHINGTON: Defense contractors believe they must sell to foreign countries as US spending shrinks. But what’s materialized overseas so far is much too small to make up for the decline at home. So when Lockheed Martin‘s Mission Systems & Sensors unit, nicknamed MS2, convened reporters today ahead of next week’s Association of the US Army conference, they talked up their global strategy and a lot of prospects, but could offer precious few actual sales.
It’s true that Foreign Military Sales hit a record $65 billion for fiscal 2012, driven largely by Asia and the Middle East, and it’s those two regions Lockheed is targeting. Global sales help not only the company but the United States as well, claimed Michele Evans MS2’s business development chief, because they equip friends and allies with compatible equipment, keep the industrial base open, and keep production volumes up so all customers, US and foreign alike, can reap economies of scale. Keep reading →