US DoD Foreign Military Sales Market, Forecast to 2021 – Military Aerospace and Defense Industries
The US DoD Foreign Military Sales Market, Forecast to 2021 Report has been published. It provides updated in 2018 year analysis of industries from , Military Aerospace and Defense Markets.
An overall increase in global defense spending is expected, after several years of relatively flat growth, which will cause the US Department of Defense (DoD) market for foreign military sales (FMS) to grow at an estimated 3.4% over the 2015 to 2021 study period. However, overall sales of US military equipment will grow at an even greater rate because International Traffic in Arms Regulations (ITAR) reform, part of an overall Export Control Reform Initiative (ECRI), will eventually result in more equipment being sold through direct commercial sales (DCS). The top 10 countries for FMS deliveries all reside in the Near East and South Asia or East Asia and Pacific regions, and the most requested and delivered systems in the FMS program include: Ground-based air defense weaponry, fighter aircraft, training services, and tactical vehicles.
Global competition for international arms sales is increasing as technology becomes cheaper to obtain and incorporate into indigenous endeavors. US defense companies must actively develop technological innovations while improving cost efficiencies if they hope sell technically advanced systems at competitive prices. They must also actively seek synergistic partnerships with emerging economies to achieve maximum growth potential.