Investor’s Business Daily:
The defense industry is likely to dominate the Dubai Airshow this coming week as regional military rivalries continue to heat up. Last month, Iranian state-run media said Tehran successfully tested a new precision-guided, long-range missile, and the United Arab Emirates and other Gulf countries could be in the market for more missile defense systems.
Northrop Grumman (NYSE:NOC) said its missile-defense and radar systems will be on display at the show, which runs Nov. 8-12. But reports say Gulf states are interested in Israel’s Iron Dome anti-missile technology.
Defense systems have been a hot item for the Gulf countries as they worry about threats from Iran. Fighting in Syria and Yemen has also added urgency to military needs. Earlier this year, Lockheed won a $1.5 billion contract to supply South Korea, Qatar, Saudi Arabia, Taiwan and the UAE with Patriot air-defense missiles.
The UAE is also in the market for a fighter jet. An announcement probably won’t come at the show, but industry talk points to the UAE waiting for the Pentagon to allow sales of Lockheed Martin ‘s (NYSE:LMT) F-35 to the region, according to Ben Moores, senior analyst at IHS Jane’s.
But the Pentagon has rules on where certain weapons can be exported. While Israel has the OK to buy it, the F-35 hasn’t been cleared for export to other countries in the region…
