Patriot

WASHINGTON: As US defense spending drops, lots of arms makers are seeking sales abroad, including mighty Lockheed Martin. But Raytheon executive Thomas Kennedy insists his company’s different.

While other US contractors began emphasizing foreign sales in the last year, “54 percent of the revenue for the IDS business is from international [already],” said Kennedy, president of Raytheon’s Integrated Defense Systems (IDS) division, in a breakfast with reporters on the sidelines of this week’s Association of the US Army conference. For Raytheon as a whole, he said, the percentage of foreign sales is a smaller but still impressive 25 percent, higher than (for example) Lockheed. Keep reading →