American financial woes threaten Norway fighter jet prices / News / The Foreigner

American financial woes threaten Norway fighter jet prices. Norway’s F-35 bill may become higher due US military spending cuts spawned by the current US debt deal. Deliberations between the Democrats and the Republicans in the US have resulted in striking a deal designed to avert a potential debt crisis like the one currently sweeping Europe. Nevertheless, its terms may have consequences for Norway’s armed forces. Part of the deal stipulates that America must reduce military spending by $350 billion dollars in the next ten years. This requirement could make the F-35 Lightning II, known in Europe as the Joint Strike Fighter, a financial casualty.

lockheedmartin, f-35priceincreases, usdebtdeal



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American financial woes threaten Norway fighter jet prices

Published on Friday, 5th August, 2011 at 00:48 under the news category, by Gareth Corfield.

Norway’s F-35 bill may become higher due US military spending cuts spawned by the current US debt deal.

F-35 in flight
F-35 in flight
Photo: Lockheed Martin/Flickr


Deliberations between the Democrats and the Republicans in the US have resulted in striking a deal designed to avert a potential debt crisis like the one currently sweeping Europe. Nevertheless, its terms may have consequences for Norway’s armed forces.

Part of the deal stipulates that America must reduce military spending by $350 billion dollars in the next ten years. This requirement could make the F-35 Lightning II, known in Europe as the Joint Strike Fighter, a financial casualty.

The US military originally intended to buy 2,443 F-35s over the next 25 years, with hundreds of additional exports helping to reduce the overall costs.

However, with defence cuts looming on the horizon, it is likely that America will reduce its order, driving prices up for export customers. This could fuel a reduction in orders by other nations, increasing costs even further.

Norway signed a 52 billion kroner deal to buy 56 F-35s from manufacturers Lockheed Martin in 2008 to replace its ageing fleet of F-16s, with delivery expected over a three-year period from 2018.




Published on Friday, 5th August, 2011 at 00:48 under the news category, by Gareth Corfield.

This post has the following tags: lockheedmartin, f-35priceincreases, usdebtdeal.





  
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