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The US arms exports grow by 13%

US arms export

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The US arms sales to foreign governments rose by 13% to 192.3 billion USD in the fiscal year ending September 30, as a result of more relaxed trade constraints and increased bargaining efforts.

President Donald Trump is trying to turn the US, which are already leaders in the global arms market, into an even bigger player, according to the government officials. The increase is partly due to the Trump’s Administration’s Trust Buy Plan, presented in April, alleviating sales restrictions. The US officials are also encouraged to play a greater role in expanding US arms business abroad.

Major military contractors selling ships, tanks, planes, missiles and others to foreign military formations include Boeing, Lockheed Martin, Raytheon, General Dynamics and Northrop Grumman.

There are two main options the foreign governments to buy weapons from US companies: direct commercial sales negotiated between government and company, and sales within the government agreement with the Pentagon. Both ways require approval by the US government.

The sales of US military equipment to foreign governments grew by 6.6% to 136.6 billion USD from 128.1 billion USD in the previous fiscal year, the State Department said.

In October, the government said the US sales to foreign armies rose by 33% to 55.6 billion USD in the fiscal year.

Overall, there was a 13% increase on an annual basis in US arms exports.