Patriot Missile System Sales Could Reach “Big Billions”
Export sales for the Patriot Missile System may become more prolific, thanks to tensions over a number of potential conflict zones, it emerged on July 15th.
Among the nations that could add to the Patriot SAM (‘Surface-to-air Missile’) system sales growth are Poland, South Korea, Qatar, Saudi Arabia, Taiwan, Turkey and Kuwait, according to its maker, Raytheon Systems.
Speaking earlier this year, Bill Swanson, the group’s Chief Executive, highlighted how, over the coming five or six years, sales of the system could reach the “big billions.”
‘Patriot’, an acronym, stands for ‘Phased Array Tracking Radar to Intercept Of Target.’ At present, it figures within the militaries of the US, Germany, South Korea, Taiwan, Spain, Saudi Arabia, Holland, Kuwait, Israel, Japan and Greece.
Farnborough Airshow
Raytheon itself is showcasing the Patriot system at the Farnborough Airshow – an industry showcase event put on every two years and which, yesterday, hosted the first public appearance in Europe of the USAF’s ultra high-tech F-22 Raptor.
Speaking at the event on July 15th, Raytheon highlighted how the latest rush of new deals related to the Patriot system represented in excess of $200m in orders. Among the contracts were those forged between it and the US Army, as well as with South Korea and Kuwait.
Patriot Sales Market
"In Asia, Europe and the Middle East, the market for Patriot upgrades is big and getting bigger", Raytheon Vice President for Patriot programs, Joseph Garrett, commented, adding: "We also expect several countries that do not currently use Patriot to join those now using it, with new sales possibly starting as soon as next year."
JSA Research Inc’s Paul Nisbet, meanwhile, forecast Patriot-associated revenue to stand at a minimum of $1bn per annum, as far as could be seen into the future.
"With the increasing threats of the Iranian and North Korean missiles...we would not be surprised to see demand for new and upgraded Patriot systems well beyond what we have been forecasting", Nisbet told news agency Reuters.
Iranian Missile Launches
Earlier this month, Iran carried out a series of missile test launches, including the firing of what it said was an “upgraded” Shahab-3, possessing a 2,000km range.
The launches were used as a springboard by Washington to push its Missile Defence Shield plans, within which, Patriot systems would feature.
US Missile Defence Shield
Poland - which the US wants to host ten missile interceptors as part of the shield – itself wants a number of Patriots in return, according to one source.
India, meanwhile, has issued a request for pricing on a new SAM system to equip its armed forces with.
Raytheon, according to Garrett, is contemplating submitting a bid to India based on the Patriot.
Source – Armed Forces International’s US Correspondent
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