These stocks benefit from surging defense spending, Bank of America says

As geopolitical tensions mount, from Ukraine to Gaza to Iran, nations are pouring greater amounts of money into their defense systems — not just to protect their borders, but also to guard against cyberattacks. Bank of America identified several stocks that are best positioned to profit from the growing defense sector, a new report said. "Developing greater self-sufficiency in strategic sectors such as Energy and Defense is becoming an increasingly important aspect of resilience at the national level," the BofA analysts said in out Tuesday. "The opportunities across advanced defense technologies, their dual-use applications and the value chain are becoming hard to ignore." As a consequence, world military expenditures are surging. In 2024, defense spending reached $2.7 trillion, or 2.5% of