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The shake-up, justified as a need for "new energy," comes as Ukraine faces critical challenges in its conflict with Russia and pursuit of Western support.
Ukraine's state-owned defense conglomerate Ukroboronprom has risen 16 places to enter the top 50 global defense companies, driven by a 72% revenue increase in 2023, a minister says.
At the Eurosatory 2024 defense exhibition, Ukrainian companies signed six agreements with French firms for joint ventures, service centers, drone production, radar navigation systems, and armored vehicle maintenance.
German and Ukrainian arms conglomerates launched their first joint facility for repairing, producing armored vehicles in Ukraine, which would accelerate vehicle repairs and support troops faster, a Minister says.
Ukraine has a clear plan to win the war with Russia by increasing the number of secret bases and factories where new weapons are tested and produced, Ukraine's Minister for Strategic Industries tells Time.
"We have more than five mass-produced analogs of Shahed-131 [long-range suicide drone]. And there is one type that is analogous to Shahed-136," Ukrainian minister says, adding that those are mass-produced.