BAE Systems could receive $1 billion of work to upgrade 134 South Korea’s F-16 fighter jets as the U.S. and South Korean governments work to finalize the second phase of of a foreign military sales contract between both companies, Reuters reported Friday.
Andrea Shalal writes that the U.S. Air Force wants to finalize the pricing and schedule of the second phase with South Korea as Seoul has requested some changes.
The report said BAE is carrying out more than $140 million in contract work to install new mission avionics, radars and weapons systems on South Korea’s F-16s.
BAE won the F-16 upgrade contract in 2012 and became the first non-original equipment manufacturer to win upgrade work on that type of fighter jet.
Shalal reports that the current market for F-16 upgrades is worth an estimated $10 billion.