US Weapons Manufacturers Enjoy Soaring Profits Thanks to War in Ukraine

  • by:
  • Source: Summit News
  • 01/26/2023

The US military-industrial complex is making massive gains as a result of the war in Ukraine and other global conflicts, with weapons manufacturers enjoying soaring profits.

Data released by the State Department shows that US weapons sales to other countries rose from $103.4 billion in 2021 to $153.7 billion in 2022.

The leap was largely thanks to US support for prolonging the war in Ukraine.

Germany’s order of 35 F-35 Joint Strike Fighter airplanes for $8.4 billion and Poland’s $6 billion spend on 250 M1 Abrams tanks also bumped up the numbers.

$3 billion in weapons sales to Saudi Arabia, a country which the Biden administration promised to stop arming due to its war in Yemen, also inflated the figure, as did $2.2 billion to the United Arab Emirates and a $1.1 billion weapons package for Taiwan.

Lockheed Martin, which develops the F-16, F-22, and F-35 fighter jets, saw its profits jump 7.13% to $19 billion in the fourth quarter of 2022.

Lockheed Martin Aeronautics F-22 Raptors by Robert Sullivan is licensed under Public Domain
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