Lockheed Martin Corp, the world's biggest aerospace company, is keen to supply India with fighters, ships, helicopters and missile system and Indian defence sources said a potential deal could be worth nearly $20 billion over five years.

"We are looking to supply frigates, air defence systems, helicopters. There is a huge horizon to expand," Roger Rose, chief executive of Lockheed's Indian operations, said on Monday.

The US company will also buy equipment worth $300 million from Indian firms for six military planes it is manufacturing for India, he said.