CA - ITA: NATO's Boost In Military Spending Benefits USA's Arms Exports
2024-07-11 14:49:01 ET
Summary
- Global military expenditure increased by 6.8% y/y in 2023, driving growth in the defense sector.
- NATO members pledged to increase defense spending, benefiting U.S. defense contractors.
- iShares U.S. Aerospace & Defense ETF offers exposure to defense sector companies, with a neutral recommendation due to fund composition.
Investment Thesis
Global military expenditure continued to increase for the ninth consecutive year in 2023, growing 6.8% y/y, the sharpest increase on a y/y basis in over a decade, according to military trade data collected by research institutes....
ITA: NATO's Boost In Military Spending Benefits USA's Arms Exports