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New data released by the State Department revealed that the US military-industrial complex recorded foreign arms sales during 2024.
Some shit you should know before you read: The US military-industrial complex has long been a major driving force of the American economy, employing millions of people directly and indirectly through defense contractors, manufacturers, and other related industries. As one of the largest exporters of military equipment globally, the US generates billions annually from arms sales, fueling economic growth and maintaining its dominance in the defense sector. The industry has seen a significant boom since Russia’s 2022 invasion of Ukraine, as countries worldwide rush to restock depleted arsenals and prepare for future wars.

What’s going on now: In an announcement from the State Department, it was revealed that US military equipment sales hit a record $318.7 billion in 2024, a 29% increase compared to the $247.5 billion recorded in 2023. The surge was driven by two key elements: direct commercial sales by US defense companies, which rose from $157.5 billion in 2023 to $200.8 billion in 2024, and foreign military sales arranged through the US government, which jumped from $80.9 billion to $117.9 billion in the same period.
Major deals included $23 billion in F-16 jets and aircraft upgrades sold to Turkey, $18.8 billion worth of F-15 fighter jets sold to Israel, $12 billion for 96 Boeing AH-64E Apache attack helicopters for Poland, and $2.5 billion in M1A2 Abrams tanks provided to Romania. The arms boom has been fueled by governments replenishing stockpiles after donating weapons to Ukraine and others preparing for escalating regional conflicts.

In addition to all this, defense contractors are also benefiting from massive backlogs of orders for artillery rounds, Patriot missile interceptors, and armored vehicles.
This all comes as arms sales are expected to rise in 2025, driven by President Trump’s return to office and his plans to bolster both the US military and NATO’s spending. Trump has proposed increasing the US military budget to $1 trillion, up from $842 billion in 2024. Trump is reportedly focused on enhancing missile defense systems and naval capacity.