Sales of U.S. military equipment to foreign governments in 2023 rose 16% to a record $238 billion, the U.S. State Department said on Monday, as countries sought to replenish stocks sent to Ukraine and prepare for major conflicts.
The figures underpin expectations of stronger sales for the likes of Lockheed Martin (LMT.N), opens new tab, General Dynamics (GD.N), opens new tab and Northrop Grumman (NOC.N), opens new tab, whose shares are forecast to rise amid rising global instability.
Arms sales and transfers are viewed as “important U.S. foreign policy tools with potential long-term implications for regional and global security,” the State Department said in a statement.
Sales approved in the year included $10 billion worth of High Mobility Artillery Rocket Systems (HIMARS) to Poland, $2.9 billion worth of AIM-120C-8 Advanced Medium-Range Air-To-Air Missiles (AMRAAM) to Germany, and National Advanced Surface to Air Missile Systems (NASAMS) to Ukraine.