Major US defense industries have reported increased revenues driven by demand to replenish weapons stockpiles shipped to Ukraine, Reuters reported.
Lockheed Martin, General Dynamics, and others said sales were up as the US and allies set orders to replace missiles, artillery rounds, tanks, and other military equipment sent to aid Kyiv. Firms forecast more growth in coming quarters.
"We went from about 14,000 artillery rounds a month to 20,000," said General Dynamics finance chief Jason Aiken, adding production was being expanded to meet monthly demands of up to 100,000 shells.
According to Reuters, the General Dynamics' Combat Systems unit, which makes vehicles and weapons deployed in Ukraine, saw sales jump nearly 25% over last year.
Raytheon said it booked $3 billion in Ukraine-related orders since February 2022 to replenish US inventories of weapons like the AMRAAM missile. Northrop Grumman saw a 6% sales boost last quarter driven by munitions and missile motor demands.
The trend echoes globally as Ukraine consumes stockpiles. Swedish Saab defense company raised full-year sales forecasts, while Germany's Rheinmetall cited strong weapon and ammo sales growth.
However, firms caution labor shortages and supply chain issues may constrain their ability to meet demand.
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