New boom for arms makers as US military spending increases

Congress is on track in the coming week to give final approval to a national military budget for the current fiscal year that is expected to reach approximately $858 billion - or $45 billion above what President Biden had requested. Lockheed Martin, the nation's largest military contractor, had booked more than $950 million worth of its own missile military orders from the Pentagon in part to refill stockpiles being used in Ukraine.