US foreign military sales for 2018 increased by 33 percent compared to the previous year’s total, the State Department’s Political-Military Affairs said in a statement.
“The 2018 Foreign Military Sales (FMS) numbers are in! $55.66 billion for Fiscal Year 2018, a 33 percent increase over last year’s total of $41.93 billion,” the State Department said in a Twitter post, adding that Defense Security Cooperation Agency Director Lt. General Charles Hooper would reveal more details about the yearly total.
According to Reuters, the increase in foreign military sales came in part because the Trump administration rolled out a new “Buy American” plan in April that relaxed restrictions on sales while encouraging US officials to take a bigger role in increasing business overseas for the US weapons industry.
The largest US arms contractors reportedly include Boeing Co, Lockheed Martin Corp, Raytheon Co, General Dynamics Corp and Northrop Grumman Corp.