U.S. weapons sales miss target, but still strong

The U.S. had hoped to sell about $46 billion in weapons in fiscal year 2011. But the Pentagon says foreign sales rose to nearly $35 billion and will likely hover around $30 billion for 2012, according to a Reuters report.

The Defense Security Cooperation Agency says the U.S. couldn’t finalize plans for several big weapons deals with various countries.

Still, export prospects remain strong, which is good news for Lockheed Martin, Boeing and Raytheon. The three biggest buyers in 2011 were the Afghan Security Forces, the Taiwan government and India.

This story is part of Federal News Radio’s daily DoD Report. For more defense news, click here.