Defence business booms and order books build on the back of Russia–Ukraine war
The war in Ukraine has meant demand for artillery shells which has boosted Rheinmetall’s results. (Photo: Ukraine MoD)
The half yearly and second quarter results of defence companies show mostly substantial increases in order books and sales, as supplying Ukraine, buying new equipment and replenishing stocks boosts contracts.
First half 2024 reporting from defence companies has emphasised the substantial increase in national spending occurring in many countries, especially NATO members, in the face of ongoing conflicts.
The situation has been underlined by the US Defense Security Cooperation Agency (DSCA) reporting a major increase in Foreign Military Sales (FMS) since Russia’s invasion of Ukraine in 2022.
Rheinmetall has been among the companies to have reported a massive increase in backlog, profits and orders.
The German group’s sales reached €3.8 billion (US$4.2 billion) in the first half of 2024 marking an increase of 33% from the first half of 2023, while backlog
Already have an account? Log in
Want to keep reading this article?
Read this Article
Get access to this article with a Free Basic Account
- Original curated content, daily across air, land and naval domains
- 2 free stories per week
- Daily news round-up email service
- Access to all Decisive Edge email newsletters
Unlimited Access
Access to all our premium news as a Premium News 365 Member. Corporate subscriptions available.
- Original curated content, daily across air, land and naval domains
- 14-day free trial (cancel at any time)
- Unlimited access to all published premium news
More from Defence Notes
-
![RTX’s unauthorised exports result in $200 million fine]()
RTX’s unauthorised exports result in $200 million fine
According to the US Department of State, 750 company violations were recorded from 2017 to 2023.
-
![UK Strategic Defence Review asks public for views on future defence directions]()
UK Strategic Defence Review asks public for views on future defence directions
Currently serving military personnel, veterans, industry and academia have been invited to submit evidence to shape the UK’s future defence postures and spending.
-
![UK begins latest round of negotiations on defence exports to Ukraine]()
UK begins latest round of negotiations on defence exports to Ukraine
Ministers from both country’s governments have met to ease the procurement pathway following the signing of a new treaty by both parties.
