Friday, February 24, 2023

The Business of War

 Sales of U.S. military equipment to foreign governments rose 49% to $205.6 billion. Sales approved included $13.9 billion worth of F-15ID fighter jets to Indonesia, $6.9 billion worth of Multi-Mission Surface Combatant ships to Greece, and $6 billion worth of M1A2 Abrams tanks to Poland.

There are two major ways foreign governments purchase arms from U.S. companies: direct commercial sales negotiated between a government and a company, and foreign military sales in which a foreign government typically contacts a Defense Department official at the U.S. embassy in its capital. 

The direct military sales by U.S. companies rose 48.6% to $153.7 billion in fiscal 2022 from $103 billion in fiscal 2021, while sales arranged through the U.S. government rose 49.1% to $51.9 billion in 2022 from $34.8 billion the prior year. 

U.S. arms exports up 49% in fiscal 2022 | Reuters

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