Record Surge: U.S. Military Equipment Sales Soar in 2024

Sales of U.S. military equipment to foreign governments increased by 29% in 2024, reaching a record $318.7 billion. This spike is attributed to countries bolstering defense amidst global instability, benefiting major defense contractors. The U.S. State Department highlights arms sales as essential to U.S. foreign policy and security.

In a significant development, U.S. military equipment sales to foreign governments skyrocketed by 29% in 2024, reaching an unprecedented $318.7 billion, according to the U.S. State Department. This surge is largely driven by nations replenishing their arsenals due to escalating global tensions, notably following the Ukraine crisis.

The State Department underscored the strategic importance of arms sales, emphasizing their long-term impact on regional and global security. Major deals included $23 billion for F-16 aircraft to Turkey, $18.8 billion in F-15 jets to Israel, and $2.5 billion for Abrams tanks to Romania. These transactions are pivotal in fortifying U.S. defense contractors' growth.

In 2024, direct commercial military sales climbed to $200.8 billion from $157.5 billion, while government-arranged sales increased from $80.9 billion to $117.9 billion. Both types of sales, essential to U.S. foreign policy, necessitate governmental approval, showcasing the dual pathways through which international arms dealings are conducted.

(With inputs from agencies.)