(TheConservativeTimes.org) – The Russian invasion of Ukraine in 2022 has increased defense industry revenues as customers, including the US government, refill supplies given to Ukraine and equip European states in expectation of future action from Moscow.
According to reports, U.S. defense contractors like Lockheed Martin and General Dynamics anticipate a surge in requests for armored vehicles in the coming months, which, combined with current orders for several hundred thousand artillery rounds, will support their results in the coming quarters.
Last year, new contracts were inked to supply Ukrainians directly or to supplement U.S. weaponry shipped to Ukraine, and these large military companies are now seeing a steady stream of money as a result.
In recent days, General Dynamics, RTX, and Lockheed executives have predicted rising near-term demand due to Ukraine’s turbulence and Israel’s conflict with Hamas. General Dynamics Combat Systems section, which builds armored vehicles, tanks, and Ukraine’s artillery, saw sales grow nearly 25% yearly.
RTX, which produces AMRAAM missiles used in Ukraine, said it has received $3 billion in orders to refill Ukraine and U.S. military inventories and anticipates more.
According to the Air Force, the AIM-120 AMRAAM is a next-generation air-to-air missile. It will operate in any conditions and beyond the visual range. The Air Force, Navy, and US allies are buying AMRAAMs.
AMRAAM boosts U.S. and allied aerial combat capabilities to counter existing and future air-to-air threats.
Northrop Grumman’s Defense Systems segment’s third-quarter sales grew 6% due to increasing demand for guided multiple-launch rocket system (GMLRS) ammunition and rocket motors, which help Ukraine defend against Russian troops.
On Oct. 20, U.S. President Joe Biden requested $106 billion for Ukraine, Israel, the Indo-Pacific area, and border enforcement, including some cash for corporations that backfill U.S. weaponry delivered overseas. Biden highlighted Arizona Patriot missiles and “artillery rounds produced in 12 states nationwide.
A report shows that while visiting Washington in September, Ukrainian President Volodymyr Zelensky thanked President Joe Biden for suggesting increased military help against Russia.
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