- Boeing (BA +0.6%) expects Southeast Asian demand for defense equipment to grow rapidly as economic growth enables the countries there to boost purchases, says the company's VP for the East Asia-Pacific region.
- Boeing and other companies are trying to attract countries such as Malaysia and Singapore to purchase jet fighters, air refueling tankers and other military equipment as regional disputes proliferate over territory and resources.
- Also, competition to win military deals in Asia has mounted as budget cuts in the U.S. and Europe push Boeing and its rivals to bid for Asian projects.
- Boeing already gets 30% of its $90.8B in annual sales from outside the U.S., with a third coming from Asia.