Re: DoD Contracting
It's about 20% which I'd argue isn't trivial.
15% of manufactured content according to Lockheed Martin across all global sales, which isn't quite trivial, I'd agree. But when they include GE Aviation as part of the UK value content, I start to smell a rat. Given that the factories actually making the aircraft and the engines are in the US, Italy and Japan, I really can't see that the UK contribution would be anything like that, unless the F35 programme is something like 50% international content. This is a US aircraft for the US military. Do you believe for one moment that they are handing half the value to foreign companies, and making themselves dependent upon those companies and countries? I suspect that the international content is being wildly over-claimed to every prospective purchaser, and includes low margin, low tech offset deals to boot.