Washington: The US Department of State announced that American military equipment sales to foreign governments hit a record $318.7 billion in 2024, a nearly 29 percent increase. The surge is driven by countries replenishing weapons stockpiles sent to Ukraine and preparing for potential large-scale conflicts.
According to Qatar News Agency, the department’s statement highlighted that these figures, marking the final year of President Joe Biden’s administration, reflect strong prospects for US defense manufacturers like Lockheed Martin, General Dynamics, and Northrop Grumman, whose stocks are expected to benefit from rising global instability.
President Donald Trump, during his campaign, called for NATO allies to increase their defense spending, proposing a target of 5 percent of GDP well above the current 2 percent goal, which no NATO member, including the US, has yet met.
