Watchdog: Western arms companies failed to ramp up production capacity in 2022 due to Ukraine war
Associated PressSTOCKHOLM — Many Western arms companies failed to ramp up production in 2022 despite a strong increase in demand for weapons and military equipment, a watchdog group said Monday, adding that labor shortages, soaring costs and supply chain disruptions had been exacerbated by Russia’s invasion of Ukraine. “Many arms companies faced obstacles in adjusting to production for high-intensity warfare,” said Lucie Béraud-Sudreau, director of the independent institute’s Military Expenditure and Arms Production Program. Nan Tian, a senior researcher with SIPRI, said that “we are beginning to see an influx of new orders linked to the war in Ukraine.” He cited some major U.S. companies, including Lockheed Martin and Raytheon Technologies, and said that because of “existing order backlogs and difficulties in ramping up production capacity, the revenue from these orders will probably only be reflected in company accounts in two to three years’ time.” Companies in Asia and the Middle East saw their arms revenues grow significantly in 2022, the institute said in its assessment, saying it demonstrated “their ability to respond to increased demand within a shorter time frame.” SIPRI singled out Israel and South Korea. ”However, despite the year-on-year drop, the total Top 100 arms revenue was still 14% higher in 2022 than in 2015 — the first year for which SIPRI included Chinese companies in its ranking.
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