Abstract
Institutionalization of the arrangements with an increase in cross-national teaming for weapons is areas where future foreign sales may have a profound effect on the United States (US) defence industry. The US defence industry is a large industry, but not dominant in the context of the whole economy. Peace gave way to the Cold War, as the United States and the Soviet Union confronted each other in Europe and elsewhere. The aerospace and electronics industries are the most important industries in defence contracting in the US. Defence employment echoes the pattern of regional and industrial concentrations of defence spending. Capital investment in the defence industry is important for its contribution to productivity and as a component of the opportunity costs of defence spending. The characteristics of the defence market have tended to favour a certain set of business firms, those that have learned to deal successfully in the specialized environment.
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