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United Technologies’ (NYSE:UTX) Sikorsky Aircraft unit expects to sell as many helicopters to the Middle East in the next several years as it has delivered to the region to date.
The maker of the Black Hawk and commercial helicopters expects to sell 400 helicopters over the next five to 10 years, with the Middle East’s need to modernize transport systems driving demand, said Anand Stanley, Sikorsky’s vice president and general manager for the Middle East, Turkey and Africa, at a industry show in Abu Dhabi, according to Reuters.
It will open a regional office in Abu Dhabi and a new business division in Saudi Arabia.
Sikorsky isn’t new to the Middle East. It already has a joint venture with Mubadala, funded by the Abu Dhabi government, and Lockheed Martin (NYSE:LMT) in Abu Dhabi.
Follow Gillian Rich on Twitter: @IBD_GRich.