Not just planes and ships. During the war the government built brand spanking new factories and after the war sold them for pennies on the dollar and in some cases gave them away.
The movie Tucker gives an example of that. Which is why it rings a little hollow when people say America should have had a Marshall Plan of it's own. We had the most modern industrial system in the history of the world, all paid for by Uncle Sam.
By the way Israel armed itself to a great extent by buying "scrap" metal. Tons of surplus armaments were sold as scrap. The toaster you bought in 1948 could have been a bazooka in 47.