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FINANCIAL NEWS
GCC boost US foreign arms sales: Study
27 Aug 2012
(MENAFN) An official study found that US arms sales have tripled last year, driven by GCC demand to build up their military supplies amid growing tensions with Iran, Arabian Business reported.
The study, conducted by the US Congressional Research Service, showed that US arms sales hit USD66.3 billion record in 2011, up from USD21.4 billion in 2010 and USD31 billion in 2009.
US military deals with Saudi Arabia surpassed USD33.4 billion last year, including the purchase of 84 advanced F-15 fighters and upgrades of 70 of the F-15 fighters in the current fleet, according to the report.
The UAE purchased Lockheed Martin’s Theatre High Altitude Area Defence (THAAD) system for USD3.49 billion in December, and 16 Chinook helicopters for USD939 million, while Oman bought 18 F-16 fighters for USUSD1.4 billion.
Lockheed Martin last month said Saudi Arabia and neighbouring Gulf states have shown interest in purchasing its missile-defense system to counter perceived threats.
The US Defence Security Cooperation Agency in June said it was in talks with Qatar and Oman for total USD1 billion deals.
Qatar wants to buy 12 Black hawk helicopters, 26 engines and 15 common missile warning systems, while Oman is interested in purchasing 55 Sidewinder All-Up-Round missiles as well as other related equipment.
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