Lockheed Martin F-16 to Keep on Flying -- in Greece

Lockheed Martin F-16 to Keep on Flying -- in Greece

Lockheed Martin's (NYSE: LMT) F-16 fighter jet is the most popular fighter jet in the world. It's probably not surprising, then, that it's also the most popular fighter jet in Greece, where the 155 F-16C and -D variant fighters form the backbone of the Greek Air Force.

And as we just found out, the F-16 may keep on flying for Greece for decades to come.

Last week, the U.S. Defense Security Cooperation Agency (DSCA) notified Congress of a plan to upgrade as many as 123 of Greece's F-16s to the most advanced F-16V ("Viper") configuration, equipped with new APG-83 Active Electronically Scanned Array (AESA) radar from Northrop Grumman. Lockheed says the new configuration will offer the Hellenic Air Force "greater situational awareness, flexibility and quicker all-weather targeting," the ability to track "20-plus" targets simultaneously, and perhaps most important, "hardware and software commonality with F-22 and F-35 AESA radars" installed on Lockheed's fifth-generation fighter jets.

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Source: Fool.com