Boeing to Challenge Lockheed on F-16 Work.

Lockheed Martin,defense contractor, is expected to square off against BAE Systems and Boeing on competitions to upgrade foreign fleets of F-16’s.
Lockheed, the Bethesda, Md.-based contractor that makes the aircraft, had a lock on the work until last year, when London-based BAE successfully challenged it on a deal to refurbish more than 130 of South Korea’s jets.
Chicago-based Boeing has also expressed an interest in the business.
Contractors are increasingly looking at opportunities to upgrade F-16s as defense budgets decline in the U.S. and Europe, threatening funding for the production of new aircraft.