In most people’s minds, America’s biggest exports are things like iPhones made in China, or swank Levi’s made in China. But in fact, America is the world’s leading seller of one category of goods, and those goods are nearly 100% made in America: weapons.
Maybe not a huge surprise, given that America maintains the globe’s largest military itself, has the largest network of bases and installations around the world, and makes war, well, pretty much anywhere/everywhere it godd*amn feels like it. But check out some impressive numbers: foreign arms sales by the United States jumped by almost $10 billion in 2014, about 35 percent growth, even as the global weapons market remained flat and competition among suppliers increased. How’d where you work do this year? Did you realize 35 percent growth? Sounds like you’re in the wrong business, Skippy.
American weapons receipts rose to $36.2 billion in 2014 from $26.7 billion the year before, bolstered by multibillion-dollar agreements (negotiated in large part by the the government of the United States on behalf of the private companies who make the weapons; wouldn’t your business benefit from having the Pentagon and the entire network of US embassies augmenting your sales force?) with Qatar, Saudi Arabia, and South Korea. Those deals and others ensured that the United States remained the single largest provider of arms around the world, controlling over 50 percent of the market.
Russia followed the United States as the top weapons supplier, albeit at only about one-third of what the US racked up in sales. Sweden, France and China were distant numbers three, four and five.
As for the buyers, America’s top markets over time are both remnants of past American wars, South Korea, and Iraq. Quite popular items included American drones, as well as very, very lucrative aftersales in ammunition, spare parts and training.
Reprinted with permission from WeMeantWell.com.