Arms Sales Soar, Swiftships Faces Bankruptcy

0:00In Durham today, March 19, global arms sales hit a record high in 2024, fueled by wars in Ukraine and Gaza, plus rising tensions worldwide. Military spending jumped everywhere, with the top five arms makers all seeing revenue gains for the first time since 2018. Researchers at the Stockholm International Peace Research Institute say producers cached in on the demand, though they're still ramping up factories, amid supply issues. In the US, defense budgets climb 5.7% to nearly $1 trillion, making a most of NATO's total spin. That cash went toward new weapons and nuclear upgrades to counter rivals like Russia and China, but not every defense firm thrived. Swift ships, a Louisiana shipbuilder for military vessels, filed for Chapter 11 bankruptcy protection on March 18, 2026. Assets and debts both fall between $10 million and $50 million. The company lost the major Navy deal for landing craft back in 2024, worth over $18 million

1:02initially, with options for dozens more. Swift ships sued the Navy for $150 million, claiming bad faith, and now faces reorganization in court. SullyPillow.com