U.S. Companies Sell More Than $40B Worth of Weapons Overseas in 2017
American defense contractors found success selling overseas in 2017, which was progress in the ongoing effort to diversify beyond their core Pentagon customer. U.S. companies made $41.93 billion worth of weapons sales during the recently completed government fiscal 2017, an increase of 24.8% over the $33.6 billion figure reported a year prior.
An Army tank in the field as the sun sets behind it. Image source: Getty Images.
The Defense Security Cooperation Agency (DSCA) said that the sales included $32.02 billion funded by partner nations, $6.04 billion funded by the State Department, and $3.87 billion funded under Department of Defense authorities. The total only includes actual sale agreements, and not tentative agreements still awaiting approval. However, with those figures trending up as well, there's optimism that fiscal 2018 is off to a good start.
Source: Fool.com
