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.
Defense industry and cooperation can’t be built in one day. But the good news for Ukraine is that it can’t be canceled in one day either due to huge investments and multi-year contracts. Even if governmental military aid from the US or EU declines, new factories and joint production will continue deliveries regardless of politics.
The Ukroboronprom CEO confirms mass productions of Ukrainian "kamikaze" drones with a combat range of up to 1,000 km. Additionally, the company supports the production of FPV drones from private firms, further enhancing Ukraine's drone capabilities.
The Ukrainian PM announced a Ukraine-Rheinmetall joint venture for military equipment services and a green hydrogen project between Ukrhydroenergo and Andritz Hydro.