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Defense Contractors Cite “Benefits” of Escalating Conflicts in the Middle East

Raytheon Chief Executive Tom Kennedy told a weapons industry conference that he is seeing "a significant uptick" for "defense solutions across the board in multiple countries in the Middle East." (Photo: Laura Buckman/AFP/Getty Images)

Major defense contractors Raytheon, Oshkosh, and Lockheed Martin assured investors at a Credit Suisse conference in West Palm Beach this week that they stand to gain from the escalating conflicts in the Middle East.

Lockheed Martin Executive Vice President Bruce Tanner told the conference his company will see “indirect benefits” from the war in Syria, citing the Turkish military’s recent decision to shoot down a Russian warplane.

The incident, Tanner said, heightens the risk for U.S. military operations in the region, providing “an intangible lift because of the dynamics of that environment and our products in theater.” He also stressed that the Russian intervention would highlight the need for Lockheed Martin-made F-22s and the new F-35 jets.

And for “expendable” products, such as a rockets, Tanner added that there is increased demand, including from the United Arab Emirates and Saudi Arabia because of the war in Yemen.

 

Read the full article at The Intercept.

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