The surge in arms exports underscores the strategic importance of U.S. defense equipment in international security policy. The State Department emphasized that arms sales and transfers are “important U.S. foreign policy tools with potential long-term implications for regional and global security.”
This record-setting year reflects expectations of robust sales for American defense contractors such as Lockheed Martin, General Dynamics, and Northrop Grumman. These companies are experiencing increased demand for products including artillery rounds, Patriot missile interceptors, and armored vehicles.
Notable sales approved in 2024 include:
- $23 billion worth of F-16 jets and upgrades to Turkey.
- $18.8 billion worth of F-15 fighter jets to Israel.
- $2.5 billion worth of M1A2 Abrams tanks to Romania.
The U.S. facilitates foreign arms sales through two primary channels: direct commercial sales negotiated between U.S. companies and foreign governments, and foreign military sales arranged through the U.S. government. Both avenues require governmental approval. In fiscal 2024, direct military sales by U.S. companies increased to $157.5 billion, while foreign military sales arranged through the government rose to $117.9 billion from $80.9 billion the previous year.
This surge in arms exports places significant pressure on defense contractors to meet rising orders and highlights the critical role of U.S. arms in global security dynamics. As countries continue to bolster their defense capabilities, the U.S. remains a pivotal supplier in the international arms market.
Source: U.S. Department of State.
