Ukroboronprom makes historic entry into top 50 global defense firms, Kamyshin says

Ukroboronprom, Ukraine's state-owned defense conglomerate, has risen 16 places to rank among the top 50 global defense companies, according to the latest rankings from Defense News. Ukraine's Minister of Strategic Industries Oleksandr Kamyshin reported that on Telegram on 8 August.

The Ukrainian Defense Industry or Ukroboronprom is a state-owned conglomerate. As of 2020, it included 137 companies, with 21 located in territories occupied by Russia. Since 2015, it has been listed among the TOP 100 Defense Companies, peaking at 62nd place in 2017. Kamyshin says last year the company held the 65th position.

Kamyshin noted that Ukroboronprom is the fastest-growing company within the top 100 global defense firms, with a 72% increase in revenue to $2.2 billion in 2023. The minister added that the first half of 2024 has shown the company maintaining this growth trend.

"The goal of the entire Ukrainian defense industry is to produce as much weaponry as possible for the Defense Forces, to manufacture it as quickly and with maximum quality, to adapt and modernize every minute to preserve the lives of our warriors," Kamyshin said.

The minister expressed confidence that after Ukraine's victory, the defense industry will become one of the country's most important export sectors, with Ukraine positioning itself as a key supplier for the free world.

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