Wars raise profit outlook for US defence industry in 2024

Big defence firms expect strong demand in 2024 due to perceived aggressive actions from Russia and China. Demand is driven by fear of Russian and Chinese aggression, and to support allies in the Middle East. Increased production of missile defences, such as patriot interceptors, will lead to potential sales boosts. Shares of defence companies are expected to rise. The Aerospace Industries Association CEO stated that US weapons stockpiles were not full before Russia invaded Ukraine.