Despite a sluggish global economy and spending cuts for key defense powers, the export market is doing well, deal approval time is falling, and the Department of State has taken an unprecedented position of authority on national security issues, a senior agency official said Nov. 28.
In something of a state of the union address, Andrew Shapiro, assistant secretary of state for political-military affairs, described increases in both direct commercial sales and foreign military sales (FMS) to a meeting of the Defense Trade Advisory Group.
“The growth of the U.S. defense trade has been truly remarkable,” Shapiro said. “Despite the tough global economy over the last four years, demand for U.S. defense sales abroad remains robust. There has been significant growth both in direct commercial sales and in foreign military sales.”
Source: Defense News. Read full article. (link)