New Delhi, April 5: The US with its F-16 fighter aircraft is leading the race to win an Indian Air Force order for 126 medium multi-role combat aircraft ? one of the biggest single military orders up for grabs globally ? after the first round in the competition saw the Mirage 2000-V from France and the Russian MiG 29M/M2 out of contention.

The value of the order after the shortlist was drawn up could be anywhere between $7 billion and $12 billion at current prices. It is estimated that the actual selection of aircraft, not accounting for political pulls and pressures, will take till early 2008.

The global tender ? called request for proposal (RFP) ? will be issued by the end of April, sources said today. Manufacturers of six aircraft who will be given the RFPs will have till October to respond.

The Eurofighter EADS’s Typhoon, Dassault Aviation’s Rafale and the Russian MiG 35 now enter the fray formally. The original four contenders were F-16 (Lockheed Martin), MiG 29M/M2 (RSK MiG Corporation), Jas 39C Grippen (Saab) and the Mirage 2000-V (Dassault Aviation).