Dozens of global defense companies showed off their latest weaponry on Thursday at the first major defense exhibition in 15 years in the Philippines, which is aiming to revamp its military amid territorial disputes with China.The Southeast Asia country has several open tenders for defense equipment, most of them relatively small. Manila aims to spend $1.8 billion on new equipment by 2017—a big increase over previous years but still modest by regional standards. Manufacturers are keen to win those early contracts, which they see as entry points to more lucrative orders in years to come.
Defense heavyweights present include Lockheed Martin and Textron, both of the U.S., as well as Thales of France, Saab SAAB of Sweden, and the defense arm of European aerospace giant Airbus. Military brass mingled with company executives at the bustling exhibition, as flashy models of drones and fighter jets vied with gun-toting young women for the visitors' attention.
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