Lucrative overseas security contracting

I attended a seminar at the offices of the Commercial Service, U.S. Department of Commerce this morning. Eventhough I knew that overseas contracts are quite lucrative, that became all the more apparent when the Commercial Officers laid it on the line.

In 2008, the U.S. was responsible for 42% of Global Defense Expenditure. That percentage translates into $1,455 Billion. More importantly though, is the fact that 58% occurs outside of the U.S.

Those concentrating on the U.S. market alone would do well to remember that 95.5% of commercial opportunities occur outside of U.S. borders. These percentages will become all the more important as the world population grows.

For instance, over the next 5 years, the World population will grow more than the U.S., U.K. and Canada combined (approx. 400 million). Not only are profit margins higher for opportunities at the International level, but companies who do business overseas will help strengthen the U.S. economy. Exports will continue to be a critcal aspect to U.S. prosperity.

Why export/provide overseas services? Firstly, it increases revenues. Secondly, it reduces a company’s dependence on the domestic market. Thirdly, it extends sales potential of existing products (which may be somewhat dated at home, but would be totally acceptable to many foreign clients).

Most importantly though is the fact that 86% of global economic growth takes place outside of the U.S.

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