US arms sales hit record $318.7B in 2024

Shafaq News/ The US Department of State has announced that American arms sales surged to a record-breaking $318.7 billion in 2024.

The unprecedented growth is driven by heightened demand as countries replenish stockpiles depleted by military support for Ukraine and bolster defenses in anticipation of potential conflicts.

The record-breaking figures from President Joe Biden's final year in office underscore the robust performance of US defense manufacturers, including Lockheed Martin, General Dynamics, and Northrop Grumman. Reuters analysts predict continued growth for these companies as geopolitical instability fuels global defense spending.

During his presidential campaign, Republican President Donald Trump called on allied nations to significantly increase defense expenditures. He advocated for NATO member states to allocate 5% of their GDP to defense—more than double the alliance's current target of 2%, which even the United States has yet to meet.