WSJ story on US defense firms finding their future in foreign sales in light of coming flat Pentagon budgets, with Asia and the Middle East obvious targets (follow the money), with Brazil, India and China leading the way. No choice, as everybody is predicting a global--as in, Western--defense spending downturn of great length. Second FT article on Italian defense firm says the same.
Wil it be sufficient offset?
No way, but it cushions the blow for pure defense firms. Those who sell civilian aerospace too will do better.