The United States set a record for arms sales in 2024 - $318 billion in sales
The United States sold a record $318.7 billion worth of arms, equipment and defence services in fiscal year 2024, according to the US Department of State's Defence Archives.
Here's What We Know
It is noted that in 2023, the value of sales was $238.4 billion, which shows an increase of 28%. Record volumes were achieved thanks to the Direct Commercial Sale (DCS) and Foreign Military Sales (FMS) programmes.
DCS involves contracts between foreign buyers and US companies licensed to export defence-related goods and services. The FMS programme allows foreign governments to enter into intergovernmental agreements with the United States, with the Department of Defence responsible for enforcing the terms of the contracts.
HIMARS and ATACMS. Illustration: Mariusz Burcz
Both programmes are governed by US arms export control laws, and major transactions are subject to congressional approval. The year 2024 also set a record for the number of new unclassified major arms sales agreements.
Recently, there have been reports that Donald Trump's executive order on a 90-day pause in international support is halting aid to Ukraine. However, it does not affect the supply of arms. Contracts issued by the Biden administration remain in force, including those under the USAI and PDA programmes.
Source: Defence Archives
