https://sputnikglobe.com/20221011/us-arms-sales-hit-50bln-in-fy2022-following-slump-in-previous-year---reports-1101740327.html
US Arms Sales Hit $50Bln in FY2022 Following Slump in Previous Year - Reports
US Arms Sales Hit $50Bln in FY2022 Following Slump in Previous Year - Reports
Sputnik International
WASHINGTON, (Sputnik) - The United States has sold approximately $50 billion in arms during Fiscal Year (FY) 2022 after selling nearly $35 billion during the... 11.10.2022, Sputnik International
2022-10-11T21:57+0000
2022-10-11T21:57+0000
2022-10-11T21:57+0000
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"I would say that we have enjoyed a rebound in arms sales," Hursch said on Tuesday after announcing the total figures for FY2022, according to a Breaking Defense report.The $50 billion figure includes foreign military sales, foreign military financing and other government arms trade authorities, the report said. The sale of expensive F-35 fighter jets contributed significantly to the sum, Hursch also said in the report.A continuing increase in arms sales is expected over the next three years or so, Hursch added.The increase in sales between FY2021 and FY2022 was due to a number of factors, including increased demand in Europe stemming from the conflict in Ukraine; increased demand in the Indo-Pacific amid strategic competition with China; and the end of the COVID-19 pandemic, which has allowed US officials to regularly negotiate more deals in person, Hursch said.However, the sales amount cleared by DSCA and the State Department do not always indicate the end values of deals finalized between a country and a defense contractor, Hursch also said.Moreover, the State Department sometimes approves arms sales not formally requested by a country to expedite potential future sales, Hursch added.
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US Arms Sales Hit $50Bln in FY2022 Following Slump in Previous Year - Reports
WASHINGTON, (Sputnik) - The United States has sold approximately $50 billion in arms during Fiscal Year (FY) 2022 after selling nearly $35 billion during the previous year, Defense Security Cooperation Agency (DSCA) chief James Hursch reportedly said during the Association for the US Army conference.
"I would say that we have enjoyed a rebound in arms sales," Hursch said on Tuesday after announcing the total figures for FY2022, according to a Breaking Defense report.
The $50 billion figure includes foreign military sales, foreign military financing and other government arms trade authorities, the report said. The sale of expensive F-35 fighter jets contributed significantly to the sum, Hursch also said in the report.
A continuing increase in arms sales is expected over the next three years or so, Hursch added.
The increase in sales between FY2021 and FY2022 was due to a number of factors, including increased demand in Europe stemming from the conflict in Ukraine; increased demand in the Indo-Pacific amid strategic competition with China; and the end of the COVID-19 pandemic, which has allowed US officials to regularly negotiate more deals in person, Hursch said.
However, the sales amount cleared by DSCA and the State Department do not always indicate the end values of deals finalized between a country and a defense contractor, Hursch also said.
Moreover, the State Department sometimes approves arms sales not formally requested by a country to expedite potential future sales, Hursch added.
