Amid persistent tensions with neighbours like Pakistan and China, India looks to induct new multirole fighter jets over the next few years to enhance its combat capabilities.
This brings back the focus on companies like Dassault Aviation, which manufactures Rafale aircraft that are already part of the Indian Air Force (IAF), and Lockheed Martin, which produces F-16 fighter jets.
American defence company Lockheed Martin is trying to sell its F-21, an India-specific variant of its widely used F-16 fighter, which will be a 4.5 generation aircraft made in India with a local partner. Lockheed builds F-16 wings at the company’s joint production facility with the Tata Group in Hyderabad and has plans to use the facility for F-21 jets.Sa
Other global contenders vying for the MRFA contract are the US’s Boeing, Russia’s United Aircraft Corporation (UAC), Sweden’s Saab AB and Germany’s Eurofighter.
IAF looks to expand MRFA fleet
According to an ANI report, dated March 11, the Indian Air Force is looking to start the induction of these planes in the next four to five years through a fast-tracked global tender, with a high-level committee having accepted the need for getting new multirole fighter aircraft (MRFA).
Defence sources told ANI that the induction of 114 multirole fighter jets would help the Indian Air Force to maintain its squadron strength in the next 10 years, along with the ingenious fighter jets.
Currently, India is looking to add 114 multirole fighter aircrafts to its fleet.
This project takes on critical importance for the Indian Air Force, whose operational strength has dwindled to 31 fighter squadrons — well below the sanctioned strength of 42. This shortfall comes at a time when China is rapidly expanding and modernising its air force, posing a growing strategic challenge in the region. The urgency is further underscored by recent events such as Operation Sindoor and the latest flare-up with Pakistan, where the use of drones, missiles, and combat aircraft played a central role, highlighting the need for a well-equipped IAF.
Lockheed Martin, Dassault share price performance
Shares of Lockheed Martin have risen over 3.5% in the last one year to $482.21. The company, which also produces F-16 jets that are priced by Pakistan, has faced significant volatility, with the stock offering zero returns in May as the India-Pakistan conflict took centre stage. As India thwarted all attempts from Pakistan’s military forces, F-16 fighter maker’s stock has been on the back foot.
At the same time, Dassault Aviation shares have surged 64% in the last one year. In May, the stock extended its monthly winning run to eight. Even as the month was marked by high volatility, the stock eked out 0.5% gains.
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