War-driven demand boosts profits for weapons and aircraft manufacturers

Boeing sees reduced first-quarter loss as defence earnings rise amid $2.3bn Pentagon contract.

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Geopolitical conflicts, including the United States and Israel’s war on Iran and the conflict between Russia and Ukraine, have fuelled surging demand for US defence companies as the Pentagon races to replenish weapon and aircraft stockpiles.

First-quarter results posted this week from Lockheed Martin, Northrop Grumman, RTX Corporation and Boeing saw limited growth as supply chain and production delays weighed on the industry.