US arms industry the sole winner of the war in Ukraine

The United States approved arms sales to NATO Allies increased dramatically in 2022, compared with 2021, as the war between Russia and Ukraine prompted the member states into purchasing more weapons.

By some estimates, military spending by the United States and its allies is growing at a level without precedent since the end of the Second World War.

According to an analysis by Foreign Policy Magazine, the number and cash value of arms sales approved by the United States to its NATO allies has nearly doubled in 2022 Compared to 2021.

According to an analysis of two years of data from the US Defense Department's Defense Security Cooperation Agency, in 2021, the US government approved 14 possible major arms sales to NATO allies, worth around $15.5 billion.

In 2022 that jumped to 24 possible major arms sales worth around $28 billion, including $1.24 billion worth of arms sales to prospective NATO member, Finland.

While not all arms sales will be finalized as outlined in the proposals, the sharp uptick in these plans reflects a massive shift in Europe's security landscape.

This has been the basis for the generation of vast profits for the arms manufacturers, with the US military industrial complex emerging as the key beneficiary of the war in Ukraine.

Despite conditions in which the Dow Jones Industrial Average has fallen by 10% for the year as a whole, the share prices of US defense contractors have surged.

Over the past 12 months the share price of Northrop Grumman has increased by 40% and Raytheon is up by nearly 17% while Lockheed Martin has surged by 37%.

ME