AIRSHOW-BAE Systems battles Lockheed for $10 bln F-16 upgrade work
* BAE expects to win a majority of F-16 upgrade work
* Singapore, Greece among F-16 upgrade opportunities
By Sarah Young and Andrea Shalal
FARNBOROUGH, England, July 14 (Reuters) - Europe's largest defence contractor BAE Systems expects to win more than half of the $10 billion market to modernise F-16 fighter jets, saying its cost-effective offering could give it an edge in the battle with Lockheed Martin.
In 2012, BAE was selected to upgrade over 130 South Korean F-16s, beating Lockheed Martin, the plane's maker, for a contract worth up to $1.3 billion.
Tighter military budgets in the United States and Europe have resulted in a dearth of orders for new jets, forcing weapon makers like BAE and Lockheed to battle it out for upgrade work.
The global market for similar upgrades on F-16 jets is estimated at about $10 billion over the next ten years, according to BAE System's vice president for global fighter programmes John Bean.
Bean was optimistic that BAE's "cost effective" proposition would help it win a large share of that market.
"A majority of it is our expectation," Bean said, when asked how much of the total F-16 upgrade work BAE thought it could win. Continuación...