Word: bae
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...used by the U.S. military in the Mexican-American War of 1846, has been replaced as standard-issue infantry gear by an Italian-designed Beretta. A Brazilian-made Embraer surveillance plane will soon patrol battlefields for the Army rather than a Gulfstream jet produced in Savannah, Ga. Britain's BAE Systems contributes avionics to the F-16, F-18 and F-117 bombers. Rolls-Royce, the British aircraft-engine maker, does more business with the Pentagon than it does with the British Ministry of Defense...
...looking abroad: Boeing, the world's top aerospace firm and the U.S.'s biggest exporter (2004 revenues: $52 billion), outsources jet components to Japan and Italy. "It's not just a cliché to say the world is getting smaller," says Mark Ronald, CEO of the U.S. arm of BAE Systems...
...Relations Committee, told the Financial Times recently that he would support a ban on the export of sensitive American technology to Europe if there were a chance it would end up in Chinese hands. That will be enough to persuade some European firms with substantial American business?such as BAE Systems, the U.K's largest defense company?to stay out of the China game. But for many other European firms, the lure of the China market will be too strong to resist and they will find specious justifications for their sales. (The most specious was offered by the French Defense...
...Boeing, especially since it is involved in investigations of illegal or unethical behavior in its relationship with the Pentagon. Boeing has already fired two executives and is cooperating with authorities. But Europeans fail to mention that Airbus' majority stakeholders (the Franco-German conglomerate European Aeronautic Defense & Space Co. and BAe Systems, based in Britain) have significant military businesses too. The Europeans also object to state governments' providing tax benefits or other subsidies to Boeing. Says Airbus' Forgeard: "We want a level playing field...
...course, Airbus' majority stakeholders, EADS and BAE Systems, both have significant military businesses, too.) The Europeans thus don't see subsidies going to zero. Says Forgeard: "We want a level playing field with a level of support that is acceptable to both sides." The debate over subsidies is especially heated because the aircraft business is so precarious. Launch costs for a new aircraft can be enormous, with little guarantee that the market will reward innovation. In December 2003, Boeing announced it would build the twin- engine, highly efficient 7E7 - its first new airplane in a decade and its designated aircraft...