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Boeing, Lockheed Martin expect to get $78bn from Saudi deal

Saturday, 03 June 2017 3:13 PM [ Last Update: Saturday, 03 June 2017 3:32 PM ]

This image provided by the Saudi Royal Palace on May 20, 2017, shows US President Donald Trump (2nd-R) with a smug face doing a dance move with Saudis after closing a huge arms deal. (Photo by AFP)

American weapons manufacturers are to receive the lion’s share of the money from US President Donald Trump’s recent Saudi arms sales.

Lockheed sees $28 billion from the Saudi arms sales and Boeing expects $50 billion, according to antiwar.com website, published on Friday.

Last month, US President Donald Trump signed a $110 billion deal and other agreements amounting to $250 billion with Saudi Arabia’s rulers.

US media reported that at a conference in New York on Wednesday, Lockheed Martin’s CEO Marillyn Hewson said she could see up to $28 billion in new business for Lockheed alone as a result of President Trump’s initial weapons sales to Saudis.

File photo shows a US Black Hawk helicopter manufactured by Lockheed Martin.

Hewson told Aerospace Daily that the Saudis want to procure four multimission warships and the company is instead offering them a variant of its Littoral Combat Ship, which has been reportedly faulty. Lockheed and a Saudi state company also agreed to form a joint venture to support final assembly and completion of about 150 S-70 Black Hawk utility helicopters. She also said that the Saudi may be interested in Lockheed’s THAAD and PAC-3 missile systems.

Boeing’s CEO Dennis Muilenburg, for his part, said his company’s share of the Saudi deal could be worth more than $50 billion.

He said the deal included both military and commercial sales to Saudis.