Although neither bid was successful, courtship of elements of TRW by BAE Systems and Smiths Industries merely served to underscore the continuing attraction of the U.S. defense aerospace market to British and continental European companies. The lure of the U.S. market is self-evident: garnering a slice of a defense budget that's roughly three times that of European Union nations. However, conversely--and perhaps, at first glance, perversely--at least the bulk of the U.S. defense ...


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