War with Iran brings billions to US defence companies

Billions of dollars have already been spent by the US on weapons in the war with Iran, making war a highly profitable business for defence contractors, Al Jazeera reports.

Last week, stock prices for major arms-producing companies in the US have all risen, including for Northrop Grumman (up 5 per cent), RTX (up 4.5 per cent) and Lockheed Martin (up 3 per cent).

The biggest defence companies in the United States have agreed to “quadruple production” of what President Donald Trump describes as “exquisite class” weaponry after a meeting at the White House.

Additionally, the Israeli defence industry is experiencing a surge in exports with highly advanced military technology taking the helm.