The defense market in the Philippines is intensifying as two major competitors, South Korea's KF-21 and the American F-16 from Lockheed Martin, have been shortlisted for the Philippine government’s multirole fighter (MRF) aircraft procurement project. According to an article from The Korea Economic Daily published on October 18, 2024, the KF-21 is considered a strong contender for meeting the Philippines' needs. With an estimated budget of 400 billion Philippine pesos ($6.95 billion), this project aims to address China's growing threat in the South China Sea. Read more.
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| Only the KF-21 Boramae from Korea Aerospace Industries (KAI) and Lockheed Martin's F-16 were shortlisted, setting up a two-way competition (Picture source: KAI/US DOD) |