Boeing, SpaceX and Lockheed Martin look to Vietnam’s booming economy for growth

Hanoi in Vietnam
Lewis Tse /

Aerospace firms Boeing, SpaceX and Lockheed Martin are among a large United States business delegation heading to Vietnam.

According to Reuters more than 50 companies, including pharmaceutical and tech firms, will travel to Vietnam to seek opportunities for business in the future.

Vietnam is seen as a flourishing economy that has warm US relations, and a population of 100 million people.

The working trip is organised by the US-ASEAN Business Council annually and will see aviation and space executives arriving in Vietnam from March 21 to 23, 2023.

In 2022 a US-ASEAN Business Council organised trip to Cambodia was attended by the US President, Joe Biden.

“This is the biggest-ever mission in Vietnam,” Vu Tu Thanh, the US-ASEAN Business Council’s representative in the country, told Reuters.

Boeing, Lockheed Martin and Bell will reportedly hold meetings with state-owned Vietnamese defence companies.

In a statement to AeroTime a spokesperson for Lockheed Martin said: “We are participating in the Vietnam Business Mission, organized by the US-ASEAN Business Council, to explore ongoing support for the security of the Indo-Pacific and further expansion of our global partnerships.”

Helicopter sales in Vietnam are understood to be a key growth area for the aerospace companies.

Boeing said in a statement to Reuters that it is looking for ways to help strengthen Vietnam’s aviation and defence capabilities.

SpaceX is reportedly looking to advance its satellite internet services to Vietnam and other countries in the region.

Executive delegates will have the chance to meet and speak with Prime Minister Pham Minh Chinh.

Non-aerospace companies attending the trip include Apple, Amazon, Pfizer and Coca-Cola.

AeroTime has contacted SpaceX and Bell Aviation for comment.

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