Author: Jamie Bennet|| Date Published: January 27, 2023
The Department of Defense’s arms sales grew by almost 50 percent in fiscal year 2022 due in large part to foreign military transactions in Asia and Central Europe, DOD News reported Wednesday.
Data from the Defense Security Cooperation Agency showed an increase in sales from $34.81 billion in 2021 to approximately $52 billion last year.
DSCA Director James Hursch said allies and partners in the Pacific made large equipment purchases amid China’s growing dominance in the region.
Gross revenue was also driven by upgrades to more expensive gear, such as the High Mobility Artillery Rocket System.
Hursch explained that DSCA’s capacity-building collaborations with partner nations contributed to sales.
“I think we will continue to see strong demand signals because of that … It’s a little hard to tell exactly how much the increase will be, but I think it will be at least as strong as this year and probably a little higher,” he added.
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