Thursday 29 Feb 2024
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WASHINGTON (Jan 25): Sales of US military equipment to foreign governments rose 49% to US$205.6 billion in the latest fiscal year, the US State Department said on Wednesday.

Sales approved in the year included US$13.9 billion worth of F-15ID fighter jets to Indonesia, US$6.9 billion worth of Multi-Mission Surface Combatant ships to Greece, and US$6 billion worth of M1A2 Abrams tanks to Poland.

General Dynamics Corp makes the Abrams tank, while Boeing makes the F-15 jet and Lockheed Martin Corp makes the ships.

There are two major ways foreign governments purchase arms from US 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 US. embassy in its capital. Both require US government approval.

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

Sales of US military equipment in the prior fiscal year totalled US$138 billion.

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